$GLD seems to following an inverted cycle still and that may portend that although a large counter trend rally looms it may be corrective. Will see if the behavior reverts at some point
Thank you for the chart. Pls tell me how to read the chart.
how to find out the next low after 7/8 from the chart?
Do you have similar CIT charts for sp 500?
Hey umap12:
With CIT’s you await the CIT date and judge the DAILY CLOSES and see if it is a H or L, then look for the next date. As an example, see why I predicted 6/28 as a L from 6/5 H. 6/6 had a lower low and 6/5 H was never exceeded and rest was simple. In the current scenario, we exceed 6/28 H – so direction is up into 7/8 at the least.
Yes, I produce these charts for most instruments and my subscription service is primarily focused on E-mini S&P. Thanks!
So as expected inverted cycles have played out for $GLD and GOLD should head higher from here into Thu CLOSE this week. Choose your stops.
if the markets are closed tomorrow, shall we see a high on friday instead of a high on thursday’s close?
Hey umap12:
An inverted high on Fri OPEN is likely but overall if you refer to annual cycle chart on the blog (http://smartpblog.files.wordpress.com/2013/06/20130619-gld.png) GOLD is moving higher into 7/8 at the least for now
Thank you for the chart. Pls tell me how to read the chart.
how to find out the next low after 7/8 from the chart?
Do you have similar CIT charts for sp 500?
Hey umap12:
With CIT’s you await the CIT date and judge the DAILY CLOSES and see if it is a H or L, then look for the next date. As an example, see why I predicted 6/28 as a L from 6/5 H. 6/6 had a lower low and 6/5 H was never exceeded and rest was simple. In the current scenario, we exceed 6/28 H – so direction is up into 7/8 at the least.
Yes, I produce these charts for most instruments and my subscription service is primarily focused on E-mini S&P. Thanks!