Posted 20 November 2004 - 06:33 PM
Well, no change from last weekend. Hard up for golds and hard down for the USD. I bought back into the Yen after exiting briefly for a day. No signs of weakness in these charts despite the apparent consolidation in golds. Don't be deceived by the action the last 3 days.
Hard down for the USD. I thought we were setting up for a USD bounce, but it looks like it is just rolling over.
However, US Treasuries seem to be getting new life. Go figure.
When looking at Hurst envelopes, watch for a change in the slope of the outer envelopes for a hint at a change in trend coming. The second thing to look for is a tag of the outer envelope for achieving the target for the move and a reversal. Not there yet for golds IMO.
cheers,
john
Edited by SilentOne, 20 November 2004 - 06:40 PM.
"By the Law of Periodical Repetition, everything which has happened once must happen again and again and again-and not capriciously, but at regular periods, and each thing in its own period, not another's, and each obeying its own law ..." - Mark Twain
