A Market Timing Report based on the 12-20-2013 Close published Sunday December 22nd, 2013
Gold tested the prior major low and bounced slightly, which is only a start. The response of the 10 Year Treasury Yield was to initially rise to test the 3% area, but the close as the chart shows (link to right), there was a pullback that followed back down to near the Weds. close. If the 10 Year Yield stays near 3%, gold will have a chance to rally from here, but if Treasury yields continue to fall this week, gold may break down to a significant new low. If you buy here, please strongly consider using a stop. The fall below support could be damaging.
Here’s the chart:
To keep up with my latest thoughts on gold on my access page, you’ll need the password, which you can get here:
Standard Disclaimer: It’s your money and your decision as to how to invest it.
I thank Worden Brothers for the chart system I use to post these charts. If you want to know more about the charting system I use every day, go to my “Other Resources” page here: Other Resources It makes it much easier to follow along with me if you can see the charts and manipulate them on your own computer, so it’s a great investment to have an excellent charting system.
Look for updates on the main chart tracking pages this week as I feel they are needed and comments via Twitter.
Copyright © 2013 By Wall Street Sun and Storm Report, LLC All rights reserved.