www.armstrongeconomics.com
Of course those biased toward gold will relay the rally as big
volume, as if this were some sort of fresh buying that warrants cheering
when in fact it is a short-cover rally. This is the bounce our computer
has projected without bias or passion, minus the hyperbole. We can see
that the Energy Models turned at the low and bottomed on July 23. The
Daily Bullish Reversal stands at 1109 and a closing above that level
will confirm the rally.
This is what Socrates wrote that was provided to the beta testers:
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SOCRATES:
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NY Gold Nearest Futures remains currently trading neutral within our
standard deviation envelop defined as 1169.20 to 1079.00. Breaking
outside this envelop on a closing basis will often signal a sharp move
will follow in the direction of that closing. Combining this with our
Reversal System provides a powerful tool to ascertain a change in
immediate trend.
On the DAILY level of our model we remain LONG 1 position. The last
LONG position was taken on the close of 4th at 109070. At this time in
basis points, our net profit is 11909.50 since Jan. 2, 1975. Our
general target objective would be to Sell new high on in first week of
September against 1144.00-1155.00. We would use a PSXCO at 1084.00 on a
DAILY closing basis. Reversing into a short position should be
considered if 1084.00 is penetrated on a weekly closing basis.
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