Gold made an ABCD against previously posted bearish area.

Who is John Gault?

Did I miss a post somewhere? What brought that up? Did you mean John Galt?

Originally posted by Barkley

Who is John Gault?

Never mind, you were just playing off the question repeated in the book over and over. Duh. Sorry, I just wasn't thinking clearly. I got thrown by the different spelling.

On to the ES. So anywhere from where it hit earlier to just a bit above is my key area, the area it would likely 'fail' if it were going to, from a technical perspective. But, it's really hard in here for me to think about playing a bearish 'W2' in what might be a rising market. Note that this does not mean I am therefore assuming this must set new highs. It very well might. But it is not a given. This could roll down into an ABCD here, and that would set up the higher push (attempt?) that makes more technical sense. So, it may set new highs, and it may not, the point is I don't really know here and the odds are not clear at all to me in such a situation.

Also, I have what I feel is a very, very accurate proprietary sentiment indicator, and that one signaled today that this is not going much higher. It doesn't indicate today has to be the high, but it does imply the odds of say 1750-1800 is very slim right now. I'm really hoping for that roll into an ABCD to really set this up for a final push. But, I usually don't get what I want...

Ha, Yes, sorry Jim. Spelled it wrong. Referring to going dark... it is the path logical men will take as we go forward.

Sure, since the spelling was different than I expected, my mind went into the 'try to figure out the answer to the question' mode, it didn't just see it as a misspelling. Odd how the mind works (or at least mine...).

Any chance we will get some real selling here? Not a pathetic little bullish ABCD and up it goes? I can only dream...

Interesting article, but I'm mostly posting it as a reference for this one quote.

"Iceland went through a similar deflationary event to that risked in the US today when its banking system collapsed and the currency halved overnight."

Now, wait, during a deflation their currency got cut in half? No, hold up, wait, all I've ever heard is that during a deflation cash is king, it's super rare, and its buying power increases. Yeah, uh-huh, that's what really happens in the real world. My money gets me more stuff. Uh-huh. Deflation and less buying power. Makes sense.

http://www.zerohedge.com/news/2013-10-12/gold-debt-ceiling-and-fed