Up, up, and away?
But before that I do want to say that I enjoyed meeting FXfox in his hometown of Heidelberg, Germany yesterday. We took a walk on the Philosopher’s Path above the Neckar River. How appropriate, huh? 😄 I got a little history of the city. Another beautiful town on my itinerary around one of my two ancestral homelands. Thanks to Foxy for the tour and conversation!
Meanwhile, back to my beautiful balloon market, it looks like they’re lifting off in another green channel that just formed overnight. The preliminary nominal 5 day cycle projection is 4620-25. The period of the last wave was 4 days. Using that as a basis for projection I get 4610. And on a 2-3 day cycle basis I get 4600-05. In other words, double top. So pick your poison.
I like the idea of a trip to the upper trendlines around 4620-25 this afternoon.  Rally is Tired But Here’s Why Not to Go Short
What about the 10 year yield? Is it gonna break out? A 6 month cycle projection says 4.15. 1 year cycle projection 4.30. Slow but steady as she goes.  Correlations Don’t Matter Until They Do, Like Now
Is it just me, or does the chartogold not look like the 10 year Treasury yield? And whatzat mean? Gold Marks Time
For moron the markets, see:
- Gold Marks Time July 26, 2023
- Full Load of Longs, But Adding 2 Shorts July 25, 2023
- Market Looks Poised July 24, 2023
- Correlations Don’t Matter Until They Do, Like Now July 23, 2023
- Swing Picks Following Gold’s Yellow Brick Road July 18, 2023
- Finally, A Few ShortsJuly 17, 2023
- Young Bull Growing Stronger July 17, 2023
- We’re Not There Yet July 16, 2023
- Stocks Are Scraping the Ceiling July 9, 2023
- Withholding Tax Rebound Sets Up a Bearish Fed Catch 22Â July 6, 2023
- Golden 13 Week Cycle Turn and Other Hopeful Signs 7/5/23Â July 5, 2023
- It’s Not Your Daddy’s Liquidity Anymore July 5, 2023
- We Now Know What is Driving the Rally June 20, 2023
- The Fed’s Slush Fund is Working June 16, 2023
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