Thanks for the copper chart.  I'm planning to move up my exit date on BDD.  p.

Maybe it will be turning on a "high".

Thanks Michael.  Appreciate you sharing the chart.  p.

Thanks. 

Anyone having trouble with Stockcharts today?  Thanks.  p.

By Mike Paulenoff, MPTrader.com

Not sure what specifically triggered the pre-market thrust in gold and in the SPDR Gold Shares (NYSE: GLD), but there are probably 10 fundamental reasons we can come up with, aside from the resumption of the "flight-to-safety" excuse. Right now, every time I think about the reason for a powerful new upleg in gold prices, my mind gravitates to the following thought -- that questions about the efficacy of the most powerful governmental institutions on the planet (the Fed and the BOJ) might slowly but surely be eating away at investor confidence that current eco-financial problems can be appropriately dealt with, and remedied. Once CONFIDENCE starts to deteriorate, it will gain momentum rapidly, which will "force" money into gold and out of all types of sovereign paper. At that point, should it emerge, gold will be the main game in town.

Based on my near- and intermediate-term work, the patter and momentum configuration in the iShares Barclays 20+ Yr Treas Bond ETF (TLT) argue that the price structure hit a spike high this morning at 109.50, reflecting the flight to safety surge in buying of US Treasury paper despite the puny yields. While this morning's high might represent the first of multiple "high-spikes" in the 109-110 area, I am willing to take a small, initial countertrend position long the ProShares UltraShort 20+ Year Treas Bond ETF (TBT). That said, to get preliminary confirmation that a meaningful high in the TLTs has been established, the price structure needs to violate and sustain beneath 107.50. From a yield perspective, taking a shot at a countertrend position in the TBT's has technical justification. The most recent round of ugly U.S. economic data has pressed the 10-year yield to a new multi-month low at 2.42%, which satisfies the measured downside target off of the 10-month top pattern that broke down at the beginning of July 2010.

I loved it and sent it to a few people.   Thanks for today's best laugh.

Thanks Isplat!  Duh, I knew that....LOL.  Thought he had left the O out of LOD.

LD, low of day?

What a handsome chart!  This is my favorite one tonight.  Thanks MG.  p.

Matt and Steve, would one of you mind looking at TBT?  Is there any evidence that this might be an exhaustion gap?

Thanks Matt.  This chart is very helpful.  p.

This is an excellent chart in my opinion.  Thanks for sharing.  p.

Thanks Joe.  You are the resident "$RUT" guru!!  p.

Nice call yesterday regarding "seeing 1110".

Thanks Michael.  p.

Alistair Gilbert's Market Timers is saying that the Euro will top tomorrow.  Let's see how good these star gazers are.  p.

Appreciate the EW count Steve. p.