"When misguided public opinion honors what is despicable and despises what is honorable, punishes virtue and rewards vice, encourages what is harmful and discourages what is useful, applauds falsehood and smothers truth under indifference or insult, a nation turns its back on progress and can be restored only by the terrible lessons of catastrophe." … Frederic Bastiat

Evil talks about tolerance only when it’s weak. When it gains the upper hand, its vanity always requires the destruction of the good and the innocent, because the example of good and innocent lives is an ongoing witness against it. So it always has been. So it always will be. And America has no special immunity to becoming an enemy of its own founding beliefs about human freedom, human dignity, the limited power of the state, and the sovereignty of God. – Archbishop Chaput


Friday, May 6, 2011

Gold - weekly chart analysis


  1. Am sure it has not escaped your attention that weekly retracement/sideways action typically takes aboout 8-10 weeks. That brings us to a seasonal low near July for the next effective launchpad.
    Best regards
    Trader Garrett

  2. In my prior comment, I should have said "potential seasonal low near July". Thanks Dan for sharing your extensive knowledge, insights and charts. Very much appreciated.

  3. "Typical" periods are for typical times.
    What is "typical" today, anything of import? Well we know that indecision is commonly pervasive and thus greed or fear often trigger sudden stampedes into and out of markets.
    The very "typical" factors like this may be expected to engage with today's atypical aspects to undermine all manner of assumptions about the future.


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