Strange situation -- The TS close that Matt is using in the email seems to be an outlier. Can someone check IB or TDW -- I can't get to those accounts right now. Honestly not sure what to do -- take the trade AH?

Also looked at Yahoo and they've got the close at 134.83 -- so what now -- take it in the after market because TS showed a close 4 cents lower? Currently trading at 134.75 AH.

I posted this a few days ago, but I think it's the most important chart for gold. We will know soon if this will be a successful backtest or if gold will fall back in the wedge. It's a weekly chart so it's the weekly close that really matters. If it falls back into the wedge, that would make me think it's more likely we will then work our way down to test the lower trendline.

thanks very much for running those numbers. i was planning on using SH for IRAs, and figured it would be close enough for gov work, but glad to get some validation.

Matt -- nice chart on everything trading together! Thanks.

We had a clean breakout above the rising wedge last week -- and it looked like we might be going up to establish a new channel. But now it will be very interesting to see if this correction will simply backtest the wedge, or whether it will prove to be a false break. If it proves to be a false break, then I would expect a much deeper correction. If it's plays out as a successful backtest, then this might be a quick shakeout. But I think the way gold acts relative to the wedge will tell us a lot.

Usually when the metal leads it's bearish for both the shares and the metal. Typically the shares lead, but obviously they've been lagging badly.

This looks like a major breakout if it doesn't reverse very quickly, and certainly worth taking note of.

DeMark is probably the most influential technical analyst with the big money boys. 

Here

Would like to thank Matt and Steve for all their great work -- and thanks to all the members of the BPT community for sharing their ideas -- and wishing everyone a very merry Christmas and a very happy and profitable new year!

Why do I have the feeling that the Fed and other CBs have orchestrated this ploy.

Here

Well then I guess they put this up themselves while they're working on the site. That's kinda cool. I'm gonna have to see the movie, keep meaning to. Thanks.

Or have they done this themselves -- very strange -- here's a screen capture of what i get when I go to Zerohedge.com (by the way, does anyone know what this image is?) 

PA's point is well taken about the correlation between SPX and copper -- copper (and silver) have been leading and both are down 1.75% today. Bears watching, no pun intended.

The Chart

Commentary on rates and the chart at jmmineset.com

This may well be a warning that the long bond bull market that Matt has posted many times may be in peril of ending.

Maybe snow and ice?

All is fine out here where is it sunny and warm :-)

Matt -- you had some great stats on the in-the-works SPY SYSTEM posted sometime in the last week or so (boy, those stats really were great!), and my recollection is that it showed that the system was long. I was interested if it was still long? BTW I searched for the system post, but for some reason I can't find it. Thanks.