This goes right along with Matt's chart 23 from last nights
newsletter.
"There is a chance that gold could
see a quick correction now down to $1,225, with perhaps a brief
overshoot to $1,220. I also think there's a chance that gold
could move back to test $1,210 after some sort of short-term top
around Day 43. We can use these pull-backs to test the last
breakout level as a chance to add to positions."
It continues to look like gold will
move up into a short-term top around Day 43, scheduled to arrive
next Tuesday, May 18th. There is also a very good chance that
this will not be much of a top, as gold should soon continue on its
way to much higher altitudes.
He's been calling for a top on May
18th for months, so let's see how that plays out.
I was watching his charts in 07-08, and he kept calling for new
highs as the market was crashing, saying it was just a little
pullback and the market would surge to record highs. My
friend's been in the market for many years, researched his charts
for months, and found no rhyme or reason to the "fractal lines" on
his charts, no consistent link between them and market price.
He concluded the fractal guy uses other tech. analysis, and
claims to use "fractals" because it seems mysterious and keeps
subscribers guessing and coming back for more. In the few
days here, Matt and Steve's analysis is far and away the best I've
ever seen, between the newsletters and the wide array. expertise,
and combination of confirming tech. analysis.
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Fractal Market guy
Posted by ditch on 13th of May 2010 at 08:00 am
This goes right along with Matt's chart 23 from last nights newsletter.
"There is a chance that gold could see a quick correction now down to $1,225, with perhaps a brief overshoot to $1,220. I also think there's a chance that gold could move back to test $1,210 after some sort of short-term top around Day 43. We can use these pull-backs to test the last breakout level as a chance to add to positions."
Is this guy accurate? I
Posted by oops1e on 13th of May 2010 at 08:13 am
Is this guy accurate? I see the posts on here all the time and was wondering if anyone keeps track of how good this information is.
good to know. when's day
Posted by oops1e on 13th of May 2010 at 08:33 am
good to know. when's day 43?
It continues to look like
Posted by ditch on 13th of May 2010 at 08:37 am
It continues to look like gold will move up into a short-term top around Day 43, scheduled to arrive next Tuesday, May 18th. There is also a very good chance that this will not be much of a top, as gold should soon continue on its way to much higher altitudes.
He's been calling for a top on May 18th for months, so let's see how that plays out.
He's been right for the
Posted by ditch on 13th of May 2010 at 08:20 am
He's been right for the last two years.
This one's the best by far..
Posted by sonia on 13th of May 2010 at 11:26 am
I was watching his charts in 07-08, and he kept calling for new highs as the market was crashing, saying it was just a little pullback and the market would surge to record highs. My friend's been in the market for many years, researched his charts for months, and found no rhyme or reason to the "fractal lines" on his charts, no consistent link between them and market price. He concluded the fractal guy uses other tech. analysis, and claims to use "fractals" because it seems mysterious and keeps subscribers guessing and coming back for more. In the few days here, Matt and Steve's analysis is far and away the best I've ever seen, between the newsletters and the wide array. expertise, and combination of confirming tech. analysis.