"As a technician, I feel that there are few analysts that offer value for me, but you do. Your work on Gold ratios has helped my analysis greatly." --Jordan Roy-Byrne, CMT (The Daily Gold) 4.9.10

Thursday, July 28, 2011

"The world is not ending just yet"

So say these two ratios.  Ag-Au and Cu-Au continue to hold support and until proven otherwise, look supportive of a broad market rally up to targets as the boyz in Washington finally get it together. 

Later on, a darker picture may be emerging.  But the setup is in place for a lot of scaredy cats to get left behind in the short term.

TA being a series of if/then statements, if these supports break then all bets are off.  I think they will hold though.

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