Here is the update of my recent charts for gold and rates:






Interestingly they share pretty similar characteristics:
- both issues were recently rising strongly which may seem contradictory, but as Jim pointed out might suggest inflation expectations
- both reached 1.27 external retracement of their respective smaller Kane patterns
- in both cases 1.27 retracement of their bigger Kane patters is still much higher what suggests that gold and rates should continue to rise together for some time to come

Okay, here we go folks, let's see if this is 'W3' up or not.

Amazing how it went right to that first level, came in to a .447 area, tested two lines, and then burst up to the next level. CD leg, or 'W3' now? I say 'W3' is more likely. The next level has a key line.

95.25-96.25 is the real critical area. But it has a tough level to clear at 93.25 first. Okay, level 2 was just cleared there.

Next level hit. Did I call that support area, or what? Draw that TL, it's amazing. Now at the ML for the set on that same data, at key numbers and a downsloping set line. Big test here.

And, at least initially, it sure 'sees' it. Notice the ABCD, too. This is crucial right here.

Hmmm, I wonder if they plan to make all this up today? Nah, they are setting it up for an up Sunday night GLOBEX/Monday sequence, at new highs by Monday close :-)

That may be true if they take out this nice .382 1.000 ABCD:

That's the key area, pattern, and setup I mentioned. It has 'tested' it twice now, so soon we should see. I would think this would send it down at least for a bit, perhaps to a new LOD. If it does take it out, that's pretty significant. My up comment there was meant to be semi-sarcastic.

Watch 90 for clues. That's always plus or minus a reasonable tolerance, it's not an exact point, of course.

Okay, watch here and let's see. I'd prefer it dumps hard to a new LOD, but that 60-min support is really important for the bulls. This may be a little 'W4' here for a push to my next area, then a 'retest' of that 60-min line. I'm just thinking out loud, looking at scenarios. And this may be a bearish ABCD at this nice area, and down it goes. All one can do is take shots at areas where one has a solid premise, then watch other key areas for clues to use in management. That's the point of my discussion in here, to show the areas I am watching as important, so people can practice that process.