Futures Market - Gold Highlight #5
Momentum oscillator DIVERGENCE explained in "The
$upertrader's Reference Manual" combines with a monthly/weekly "Inversion
Cycle" ALIGNMENT listed in "The 1998-99 $upertrader's Book of Linear Time
Cycles" and the seasonal tendencies presented in "The
1998 $upertrader's Almanac" to NAIL the 18 year low in the gold market.
(COMMENT # 601)
UPDATED 19980826
COMMENT 1998-601
1. Let's turn to page 349 in "The 1998-99 $upertrader's Book of Linear Time
Cycles".
2. This is the sister market of the market reviewed in COMMENT # 595.
3. It would appear, at first glance, that we are making new yearly lows in this market.
4. The spot futures contract, however, is forming another of those major DIVERGENCES we've
been highlighting of late as it is holding above it's January low (see pages 171-184 of
"The $upertrader's Reference Manual").
5. Note the sharp upturn on page 349.
6. Based on the information on this page, we would, again, appear to be a tad early.
7. Momentum oscillators such as Slow Stochastics and RSI are not confirming these new lows
in the individual contracts, however (see pages 171-184 of "The $upertrader's
Reference Manual").
8. Now turn to page 173.
9. Do you see, in the "Inversion Cycle" listings, what I mean by being just a
tad early?
10. Now look at the other two markets in the listing on this page which qualify for a
"Monthly/Weekly Inversion Cycle" ALIGNMENT.
11. Are the 3 projected "Monthly/Weekly Inversion Cycle" ALIGNMENTS not TEXTBOOK
CLASSICS?
12. Isn't this EXACTLY what one would expect to see at a MAJOR CHANGE in the markets?
13. Can you recall when this same-type information was ALIGNED and projecting a major
stock market turn in July (see COMMENT # 521 on 980714)?
14. Listen up, class, and be ready for turns in these markets!
15. Further, turn to page 302 in "The 1998 $upertrader's Almanac - 2nd Half
Edition".
16. Note the chart in the middle of the page.
17. This chart shows the long term seasonal tendencies in this market.
18. Can you locate the "901" at the bottom of the page?
19. No, Matilda, this is not a jean advertisement.
20. It really does mean "September 1st".
21. Can you tell whether the seasonal trend is up or not over the next few weeks?
22. Again, the short term arrow at the bottom of the chart is in conflict with the long
term average.
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