GOLD (COMEX) gold

Originally posted by goldbear77 ↑

@petg

think we'll see a blow off top on the sp500 and a big catchup move up in gold also.

theres been straight line oil & sp500 support in both recovering from lows.

wombat will have - like me - seen these bizarre 2am and 4.30am spikes in all US major indexes for the past month or so. same as we've seen the big spikes down in usd pog at either 12am or 3am.

its not human - so suggests its going to continue until the technical boundaries are confirmed to be behind us.

so oil at 52+, sp500 at 2150+

i dont think there's any coincidence between the fomc emergency meeting and yellen then briefing obama in Feb - and what we are seeing occuring in the various key markets now. It is a big push to drive the US economic narrative toward positivity

volumes in US while low compared to prev months appear to be same as they were in May/June last year - traditionally a time when many investors take money out of the market

so i think welll see a lower volume breakout the rest of the market then chases - prior to some fairly godawful pop late in the year - once main st growth narrative is on firmer footing

im not ever a conspiracy theorist - but the programmed US market support moves have to be experienced to be believed.

its freaky watching your boats all rise at once as this hidden monster pushes up under you

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Rate Hike is coming, Fed is bidding up the market to give it room. We'll be heading back down soon enough but that hike is coming... that's what happens when your stuck in a box and cornered either way you move up or down it won't help anything.

It doesn't matter if the FED raises interest rates to 5% or lowers them to -5%. Why? Heh, what is the REAL national debt again? Bankrupt is bankrupt. It's just a matter of how many chairs are left when the music stops.... so many investors who think the markets will keep rising and rising are going to get fleeced.

There is no correlation between the Fed interest rate rises and Gold retreating, it's a myth. It has actually worked great for Gold on many many occasions.