When we look at the gold market, you can see how it’s come back. And on a closing basis, if this were the end of the week — which it’s not — you would be up 2.34%. That’s a pretty good game. You can see how the market came down, and I didn’t know if you were going to which one of these numbers. You can see how it spiked, and now this rally that finally got over that, to me, signals, “Bye-bye, Miss American Pie.” This correction leg is over.
Momentum is now turning itself up; we do not have the bias up. The bias is down, as the market’s still under the 18-day average. There is no trend; you have a lower low and a higher high. You see, there’s no sequence here at all.
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