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

I'd think this wants 98 today, and if it can do that, why not stretch and try for the new high and that 1200? That's what I suspect.

Acceleration phase about to begin? I can see the robot drone algos circuitry getting all excited here.

In 'the old days' I'd say this is very technically unhealthy here (the intraday runup from the LOD) and I'd be cautious of a swift drop in here the way it is acting. That's what my instinct and experience tells me. But in this MRRD world, who knows, it may just keep grinding up to that upper area. I just know I'm being very 'tight' with this in here.

Looks like this 1-min ABCD followed by sideways may give it the base to run another leg up. Let's see. The area sure stopped it dead, but I can't believe the MRRD's won't keep running this.

And lo and behold the MRRD's, the 'invisible hand', keeps it going, for another new HOD. Right off a little ABCD. This ain't 'the old days', that's for sure.

The thing I want to keep my eye out for, still, is a possible sell. There is something not right, as I said, and a new high like this can frequently be the trigger for a sell. Maybe not, maybe right back up again, but I'm still very, very wary in here.

Boink. Nope, the MRRD's are still running the show. I'll just stay with this, as planned. It's good to be wary, ready to act, but ultimately I just flow with the drones. So, that 98 and over 1200 look more likely now.

You know, it doesn't matter what you call them, MRRD's, drones, algos, 'the computers', programs, SkyNet, The Matrix, whatever, they've reached sentience now, and they run the show, they are the world. And flowing with them is the only game in town. So be it. They can't be fought, they own the entire planet now, so just go with them.

BTW, first key area reached, so watch for the sharp selloff.

Don't misunderstand what I mean here. I am not saying a sell off will happen, I'm saying as they run it up more and more into key areas, the odds increase that it will move to the fast sell on huge volume phase, only to start the grind up again on no volume from one of the first support areas to be found. That's the game, over and over.

So, Jim, what's the basis for this area here? Why the concern at this particular spot? Go to a 60-min all-sessions, and put the big, obvious natural set on there. Now you see why? Toss on a .786 for that last pullback, a 50% IB, and so on, and you get the idea.