Gold pattern pointing up, page-366

Wouldn't a falling DOW/SP500 imply rate hikes more likely and earlier? In theory that can't be good for gold as a strong USD has the opposite effect. At least the AUD is also falling from its recent rock start status maybe factoring bad Chinese PMI figures tomorrow.

I have a more balanced portfolio although still small compared to cash and a rapidly falling AUD is helpful for me. However I just can't help but wonder if current SPI200 sell off and does not seem to be abating is QE unwinding and foreign money leaving for US? I need Stevens to be more dovish and just cut the damn rates. Start wearing Nike and just do it!