GOLD in WELL ESTABLISHED Up Channel Buy Dips

GOLD in WELL ESTABLISHED Up Channel Buy Dips

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Looks like Friday up Day as dollar corrects to prop mkt

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Right on Track for 1240s LOWER TEST ? Let's start with the S&P 500s daily the S&P by the most classic group of technical measures (ours being Bollinger Bands, relative strength and stochastics) is wildly overbought. But more dangerously remains the state of two haunting fundamental facts: 1) our "live" price/earnings ratio settled the week at 31.6x, and 2) the amount of dollars it takes to move the S&P one point has thinned even further from $911k on 29 January to just $474k today. Yes, we herein hammer away at this week-after-week, for eventually the Great Unraveling will out. Also, the engaging "pas de deux" we'd been witnessing between Gold and the S&P has seen the latter break it off into a "see ya dude" as depicted here by their respective percentage change tracks from one month ago-to-date (21 trading days)