Markets Expectations

www.armstrongeconomics.com

This is the image run by USA Today showing how quickly the general public assumes long-term changes in trend are at hand. The general headlines said the public lost confidence in the central banks. The public is losing confidence in everything and when that moves to the political arena next year, we should be off and running with the Public to Private asset shift.

With the USA closed today, gold has fallen back to $1207 to retest the Reversal it elected at $1209. Since we closed at 1239.40 well above that number, you should return to retest it. There are still no indication that gold has reversed the trend. This is true also with the Euro. As long as we hold 1164 in gold and 11070 in the Euro on a closing basis, we have not reversed yet back down.