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1、SilverClearedForTake-OffMorrisHubbarttWeeklyMarketUpdateExcerptpostedNov9,2012USDollarSellSignalsChart·TheCCIindicatorputinaspikehighonMonday,andthatsuggeststhedollarismakingatop.AspikingCCIismostdependablewhenitisaccompaniedbysoftvolume,asitwasonMonday.·Thehead&shouldertopformationthatI’veh
2、ighlightedonthischartisverywellshaped.·Forthispatterntobe“activated”,thedollarshouldtradebelowthenecklineforatleasttwoconsecutivedays.Oncethathappens,atargetpriceof72willbeinplay.·My“slowStokes”(Stochastics)indicatorisalsoflashingastrongsellsignal.Myrecommendationistoavoidthedollar.Focusongo
3、ld.DowDiamonds(DowProxyETF)CrashTargetsChart·Thegeneralequitymarkethascompletedasmallhead&shoulderstoppattern.Notethemassiveincreaseinsell-sidevolumeoverthepast2days.Crashescanfollowthistypeofvolume&pricepattern.·IftheDowcrashes,Iexpectgoldstockstosoar.GoldFib50Chart·LastFriday,goldmovedtowa
4、rdsthe50%Fibonacciretracementlineat$1662,andnowa“buyvolume”spikeisinplay.·ThenextCOTreportisanimportantone,andIexpectittoshowthatcommercialtraderscoveredalotofshortpositions.Longtermcorepositionsshouldbebuiltintimesofmarketturbulence.Iadvocateholdingsomephysicalmetaloutsideofthebankingsystem
5、.·Mynextsignificanttargetsforgoldare$1850and$2015.Fromabout$2015,Iexpectaconsolidation,andthenevenhigherprices.·AkeytechnicaleventinthegoldmarketistherecentspikebytheCCIindicator.Onthischart,I’vehighlighted5similarCCIspikesdown.Youcanseethatthegoldpricetendstorisesignificantlyafterthesespike
6、s.·ACCIspikedoesn'tmeanthedeclineingoldwillendimmediately,butitdoesmeanaturnisnear.FollowingthemostrecentCCIspike,goldbottomedonTuesday,Nov6th.Ithinkamajormovehigherisunderwaynow.GDXRightShoulderFocusChart·Theabovechartclearlydisplaysabullpennantformation.Thepennantishighlightedwithtwogreent
7、rendlines.Itformstherightshoulderofanenormoushead&shouldersbottom.·Thetargetofthishead&shoulderspatternis$66.IthinkGDXcouldovershootthatprice,andtouch$72byJanuary,2013.·Foryears,thegoldcommunityhasbeenhopingtoseethegoldstocksoutperformbullion.It’ss