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

Drifting off nicely in GLOBEX. I, for one, am going to be amazed if this is an intermediate top in here. Why? Simply because it would be just so impressive to see the geometry turn sentiment that is so strong in here. I'd go so far as to say I don't think it can, but we've all see it time and time again, the geometry overcoming insane sentiment. All I can say is I just love this action.

USD at important support

i am trying to synthesize a scenario where ALL the good forcasters wind up being correct BASED ON THE GEOMETRY. last year, all the GOOD forcasters(( do not think traders) were in synch. this year they are very much at odds... .all i come up with is a massive kane double top abcd......

Although I have a little something right here, I am watching the 12+ area magent very closely.

I have two sub-levels, about 12.25 and 14, but it's really all one area, if you will. It sure 'sees' this area I have here at 9.50, I can tell you that.

Originally posted by jimkane

... this area I have here at 9.50...

Is it this potential ABCD?

My main concern is that line at an .886. This is more like a 'W3' in structure, and that has me thinking it will more likely continue up, but if it were inclined to roll over (I just don't see that as most likely), this is an area to watch. And it just did react off my line finally, but I suspect that's just the obligatory check back and reaction to the area, then up it goes. Let's see. It could be the start of something big.

.382 pullback right at line on 1-min, and sharp reaction. Now we see.

Just look at the battle over my area here.

I think the battle will resolve to the upside here, shortly.