Gold found that bounce at the 1080 target and now it's on it's way to the previously targeted 1136. I am upping the possible target to 1179 now, before heading to 1036. If Gold 1179 then I would think the DXY would be at 76.50 by then, EUR 1.45-1.46 and the S&P threatening 1150. None of these are foregone conclusions (is it ever?) and for all I know Gold might go straight to the moon. If the market can maintain a 90* trajectory for a year then why stop now? We are at the mercy of the men behind the curtain.
In the graph above the hash marks are only there to show there will be some backing and filling on the way to 1036 [forgot to add them to the black line]. It's all about the dollar and when you read things like this it doesn't exactly inspire confidence in the confetti.
As far as the S&P goes, there are all kinds of resistance points at 1136, 1145, 1150 through 1169. Should make for some chop. Advantage still to the neutrals while 800 e-traders a day churn their accounts into net-debit.
