Gold - Ready to Skyrocket!

The safe haven trade in Gold is ready to ignite with an explosive move higher.  The symmetry for Gold is outrageously bullish near term.  The geometry is favorable for a bottom with very solid support at this level.  Minor downside to the white line is possible.

The January target is $2,020. 

Daily Chart

The Silver chart is extremely bullish near term.  The white trendline held today.  A slight undershoot of the line still remains a possibility.  The next target is $37.

60min Chart

Silver - Bullish Triangle

Testing the lower boundary.  The anticipation is for a sharp rise into the target zone.

4hour Chart

Silver - Hit Target - 3rd Bottom

Silver hit the anticipated downside target this morning.  The symmetry suggests that the 3rd bottom is a significant bottom with a strong rise to follow.

A rise from point 3 to point 4 should be steady with few dips.  A top is anticipated at approximately $37 on the Silver futures (point 6).  Point 6 is anticipated to be a higher high than point 4.      

2hour Chart

$SPX - DAX Leading Down

Much of the current economic news has centered around the situation in Europe.  The German DAX has been a good leading indicator for SPX.  The higher low for the DAX in July 2010 was a solid indicator of a bullish move to commence. 

The same was true in early October 2011.  The higher low on the DAX suggested a bounce.  Why just a short lived bounce?

Daily Chart

Unlike 2010, The performance of the DAX is still much weaker than SPX.  The large gap in DAX vs SPX is quite clear, and should be taken as a serious warning.       

Daily Chart

$SPX - Triple Top

The orange fork was hit perfectly today completing a nice, clean triple top.  Price closed under the yellow midfork, and I anticipate that the downtrend has now commenced.   

The "2008 pattern" as well as symmetry indicate a steady grind down.  The cycle analysis was positive mid this week, and it weakens dramatically from this time.  This is very solid support that the top call from a few days ago holds true. 

Traders have been trained now to trade the "November whipsaws".  So the market throws it's curve ball.  No whipsaws - steady trend down.  There are no bounces of any significance on the way down. 

The mistake many will make is to try and pick a bottom all the way down.  Don't fall into this trap.  Sit, relax, and wait for the bottom.  Target 1044 SPX.

As shown NDX has already been leading down since Monday.

30min Chart

SPY - Top is IN!

All of the cycles and methods that I use in my analysis are unanimously bearish with a major decline commencing today, and continuing through December.  The symmetry indicates that the decline will be steady, relentless with no significant bounces until 1044 SPX. 
A substantial bounce is expected from the 1044 SPX January 2012 target.  A final low is estimated at 1025 SPX early 2012.  The entire process is mapped out in the symmetry to be an inverse Head and Shoulders pattern encompassing several months early 2012.  The target at the green arrow is the Left Shoulder.

This is a market trending downwards.  There have been lower highs since late October, and in fact, lower highs since May.       

The coloured arrows correlate to my "2008" pattern.  Further charts will be coming shortly.

Daily Chart

$SPX and Silver - Updated

SPX traded into the oval target range last week, and a decline appears imminent.  The green arrow marks a possible downside target on a short term basis. 

After this decline a solid bounce looks probable into the middle of next week.

However, my outlook as previously outlined is exceptionally bearish with a 20% decline forecast into January from the current level. 

10min Chart

Silver has taken longer to set up properly, and that means the timing is pushed out.  A third bottom would have me taking a bullish stance on Silver as per the Symmetry.

Silver futures could bottom around $29.50, and then a steady grind higher in December is anticipated up to $37 in January.

30min Chart