"YOU AIN'T SEEN NOTHING, YET"
"Ready To Run"
We are looking for the PM sector to make a big run starting right about now- a run that will likely take $Gold up to new highs over the next couple of weeks. Let's take a look at a couple of charts.
In the chart of the HUI Index we can see that the HUI rose off the October 08 bottom in 5 waves before it ran into resistance at the lower roll of the moving average ribbons. After hitting resistance, instead of correcting sharply, the HUI "corrected" upwards and sideways in an "expanding triangle" as seen on the chart. We can confirm the price movement by noting the formation in the TA indicators. The potential is for a sharp move higher by the HUI into June to about the same upward climb as the first 5 waves. Such a move might take the HUI up to around 502 on the Index.
In the chart of GG we see a similar price pattern. GG ran up to the bottom of the moving average ribbon, then has "corrected" up through the top of the MA ribbons- a sign of real strength. We believe the potential is for GG to have a sharp upward move back toward the old highs into June.
Here is a little clearer chart of GG showing the expanding triangle and the strong accumulation of the stock.
In the last chart we can see that $Gold exhibited great strength through what we had anticipated to be the "deflation scare" bottoming well up inside the moving average ribbon into October of 08. We can see Gold has risen in a 5 wave impulsive move with a following "a, b, c" correction. $Gold now sits on support of the MA ribbon ready to lift-off once again to new highs.
With some work and responsibilities out of the way, we expect to be moving to a subscription newsletter or investment site. It looks like I will have a friend as a partner. Anyone interested in receiving information when our site is up, feel free to send a note to the e-mail contact, below. Anybody who contacted us last year will have an e-mail notification sent to them.
[email protected]
For the moment…………..Goldrunner.*****************************
at http://www.gold-eagle.com/editorials_08/goldrunner042909.html
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"ready to run"
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