this looks like a currency intervention to me by one of the Central banks in Asia. Please note the level at which they intervened, that could be a bottom for the greenback.

What are the details of his overnight manipulations for those who don't know about trading futures? There are gaps. So what? Curious.

It has crossed on the 15 minutes, but $USD=77.48 is still too high and the 60-minute chart is fr from giving a sell signal.

XLF is strong today, see if it could break out of its resistance zone 15.00-15.07. When even luggards begin to rise quickly, it's close to a top.

Perth, I like your rumblings. Timing of the advance is not right yet: give it at least one more day to rise further or consolidate. GDX still looks frightened to move higher, so the sentiment is still bearish.. not ripe yet to reverse. There are several of us who'd love to short GDX, actually following its intermediate trend. FWIW. I'll respond to your tonight, I was away from the market feed for over a week. 

Peridot, Thanks for the chart. Wave 3 up on gold looks correct (it should be C, not 3, IMO), and it's not complete yet. When complete it should correspond to the $USD at 77.14 or lower. What I cannot reconcile yet is how this corresponds to wave 4 down of intermediate wave 1 up on $USD: gold is either 4 days ahead of a few days behind. Oh, well..

I'd like to believe that I can listen to anyone and believe no one :-) Much less to trust... Happy New Year, prosperity and luck yet to come!

Peridot, gold is the strongest sector in the long term. Even commentators on CNBC put a bottom on it around $1,040ish contrary to what the charts predict. The pattern is bearish, yet where would money managers put their money if they ought to sell stocks? In bonds? Or commondities? Given the long term perspective, I would opt for commodities and gold, which have lost most of their lofty gains. IMO.

Matt, what does your dollar futures index represent? www.kitco.com lists 77.77 for the moment, and your chart shows 78.20. Could you please explain the difference?

JASO seems to be on a verge of breaking down, it posted ugly candles on the 15-minute charts. CSIQ is in a bullish falling wedge, and seems to be heading lower.

IYR is resting its high from yesterday. It could be near its reversal point, if it posts another hammer today.

My short on CSIQ is working well so far. 30.00 was the top of the BB. When oil was at 147, it peaked at 52.00ish, so count yourselves.

http://stockcharts.com/h-sc/ui?s=csiq&p=D&yr=0&mn=9&dy=1&id=p77868502372

Stock ticker: CSIQ, it gave a sell signal on the 60 period stochastic on 15-minute charts, and is close to giving a sell signal on 133 stochastic. It looks like the stock is being sold quietly while no one is watching it.

http://www.globalspeculator.com.au/documents/1970-1982-APossibleRoadmap.pdf

http://www.kitco.com/ind/schwensen/dec162009.html

He outlines the perspective in part one and then makes remarks related to the present. If you don't have time, read and analyze the first 4 pages of the first article.

Matt, I agree about the residential real estate. IYR and SRS refer to the commercial real estate, which recovered a bit owing to injections from the government and lowered prices. It generally drops about 2 years after a beginning of a recession. Roger Wiegand projects a huge drop in commercial real estate in the second quarter of next year after the subsidy funds (the life support) are weaned out.

I tried shorting IYR too and failed. That is the ETF for commercial R.E., which is recovering along with the rest of the economy. You have a telescope view of reality if you are insisting it should go down :-)

The pattern measures a couple of points higher from here.

siewyin, I'd use GDX as a guide.

Almost guaranteed, Search for an earlier post of mine on that regard (confer with Roger Wiegand's prediction).

Matt, is the suggested stop at the lows just under the lower trendline or under the wedge break-out point? Does it look like wave 1 on the $USD is over? Thanks for your input and pointers on this stuff.

I have the same feeling for GDX: the flush-out type bottom has not been put in. Market makers like to do sharp moves near holidays when everybody is away. Is it prudent to take profits here expecting a retest of the 1065-1070 on gold's futures? Any intelligent suggestions are welcome.

We did break out of the wedge on 60-minute charts. Does it give any credence to the upward move? Still doubting..