Hi @mirren The Dow cops a 3% belting and gold rises. That's good...

Hi @mirren

The Dow cops a 3% belting and gold rises. That's good for the cockles of the goldbug's heart.

… but …

They're playing interruptus tomorrow so everybody 'off the train' calls the conductor as a final muchly warranted final salute is given to Prez.Bush. That'll kill some momentum.

Continuing my dollar theme, when (almost) all said it would die now that Xi and Trump broke bread in Argentina, it hasn't died at all and for gold to rise this week with that dollar drumbeat is reassuring.

One savant I read is Avi Gilburt and I have three quotes from his latest, (linked below).

1 "When Mr. Powell reported that rates may not be rising any further, many were writing the obituary for the US Dollar. But, just like with Twain, I think this obituary is a bit premature."

2 Last weekend, I noted that “until I see a break down below the 95.45 level in impulsive fashion, I have to at least recognize the potential of the DXY to extend up as high as the 98/99 region.”

3 I still think the market is heading up to at least the 99 region to complete an ending diagonal. And, it will likely continue to be choppy, as that is just how these diagonals take shape.

https://www.*****.com/commentaries/...orts-Of-My-Death-Are-Greatly-Exaggerated.html

My water tells me to stay sitting on the fence for now.

NB: While trying to see if anything on the chart might launch gold further above your blue resistance line, I saw a diamond pattern that started forming after the huge UP candle mid-October. That diamond has given us 2 UP days already and because of its reputation of unreliability I feel this pattern won't be giving us much more.

Watching!