GOLD SHOULD TRADE WITHING THE WHITE DOWNTREND CHANNEL FOR AWHILE, THEN POSSIBLE BREAK OUT HIGHER OVER NIGHT. SOME TRADERS MAY CASH OUT BEFORE THE LONG LABOR DAY WEEKEND AND MAKE GOLD MOVE LOWER, HOWEVER, IT WOULD NOT BE UNUSUAL TO HAVE A GIANT SPIKE HIGHER TO NEW ALL-TIME HIGHS BEFORE THE HOLIDAY WEEKEND EITHER. SOME OF THE BIGGEST RALLIES I HAVE SEEN HAPPENED JUST BEFORE THE MARKET CLOSED ON SUCH HOLIDAY WEEKENDS. WE'LL HAVE TO WAIT AND SEE.Tuesday, August 31, 2010
3:44PM PDST GOLD TRENDING SLIGHTLY LOWER IN A LARGE WHITE DOWNTREND CHANNEL THAT WILL RESOLVE UP
GOLD SHOULD TRADE WITHING THE WHITE DOWNTREND CHANNEL FOR AWHILE, THEN POSSIBLE BREAK OUT HIGHER OVER NIGHT. SOME TRADERS MAY CASH OUT BEFORE THE LONG LABOR DAY WEEKEND AND MAKE GOLD MOVE LOWER, HOWEVER, IT WOULD NOT BE UNUSUAL TO HAVE A GIANT SPIKE HIGHER TO NEW ALL-TIME HIGHS BEFORE THE HOLIDAY WEEKEND EITHER. SOME OF THE BIGGEST RALLIES I HAVE SEEN HAPPENED JUST BEFORE THE MARKET CLOSED ON SUCH HOLIDAY WEEKENDS. WE'LL HAVE TO WAIT AND SEE.
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