It appears all the players are in character as the Fed pretends to make a decision on some kind of policy. For weeks now the dreaded ABC in gold has been going around the internet, featuring the self-proclaimed 'most frightening gold chart in the world' and its target below 400 (to fill a gap).In reality of course, the gold sector got too bullish and was weighed down by the very worst of holders; the kind that watch Kudlow & Cramer, have no financial soul or compass of their own and are the ultimate sheep to the slaughter - every time. The public bought gold in a knee jerk response to panic (and major media hysterics). That money must be drained, and it is being drained. Wash, rinse, repeat. Over and over and over.
Here is gold proxy GLD sporting another pattern that has been going around lately, the dreaded H&S top. A break of the neck line targets 79.
