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March 24, 2014

Gold Signals Intermediate Cycle Decline

The big news of the day is the signal delivered by the action in gold regarding the state of its intermediate cycle, namely that the cycle is now in decline. The indication of decline actually comes in two forms, both from gold's daily chart, and moves our primary framework of expectations toward the scenario described a week ago in which I conjectured that gold's December low was not a double bottom, but rather the second test of the lower bound of a large, descending triangle. The signals: ...

 

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