Gold made an ABCD against previously posted bearish area.

Well, we'll see if this area that reaches down to say 40-41 turns this, or if it just heads right down to sub-1600 in one quick shot. It all depends on what comes of all these CON-gress shenanigans. There is also something at around 1620 that might produce some reaction. It does look extremely ominous, and that's usually when they come in hard. Some day they won't, but the money printer is still on full, come January when Old Yeller gets in, she'll up it, maybe even tenfold. I would surely say at least double to triple. She makes old Benny seem like a piker. So, I see no reason yet for this to really collapse. Now, if we default, which really means essentially nothing, it may sell a bit, and then recover. Just some thoughts.

Okay, some new deal talk, here go the futures. We'll see if this is the 'big pop' or not...

FLAT/DB here?

Can this small area send it higher...



... to one of these two resitance reserves?

ok....done or crash mode

right to the .786

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