Seems to finally be recovering.

Thanks for the great charts.  I know there are several other indicators Matt looks at too to help see if it's actually a reversal, or just a bounce.  He and Steve were saying something the other day about buying/cash flow? had to be very low, way under 100K whenever there's an actual bottom.   I guess everyone is bearish and selling like with capitulation days in the market.  Said the #s only come out once a week or so, and wasn't quite low enough yet, but after today....

Thanks again for the info and excellent charts on gold, pki.

Had no idea it sank that low.   Thanks for the update.  It's after 6AM EST, and it has continued to rise...saw it only (only...ha) 85 or so down a little while ago.  Might be capitulation, or at least a bounce in some of these commodities today.

It's 5 AM, and just saw platinum off 110, then pulled back to 97, and sank again to 104 down.  What the heck is going on today?  I've seen drops of 40-50+, but never anything like this.  Gold is still off around 30 this AM.

Thanks Peridot for the $Gold Weekly chart with the 89 MA.  If you replace the Gol with US it brings up the US Dollar Weekly Chart, and the 89 MA was support from late '05 to spring '06, then it fell below it and became resistance, and retested from below in Oct. 2006.   That same MA comes in at 77.62 now, and I believe will still be resistance.   Also on the daily $USD chart:

http://stockcharts.com/h-sc/ui?s=$USD&p=D&yr=1&mn=0&dy=0&id=p83754372944

Late last year and early this year the dollar had/has? resistance in the mid-high 77 area as you'll see on the chart.  Early this AM on Bloomberg noticed that the dollar has spiked to the low 77s, and isn't far from any of the above resistance #s, whether daily, weekly, and several indicators from the daily chart, from schotastics to MACD, ADX/DMI etc. seem to either have topped out and/or are starting to reverse and have major divergence. 

One other thing, whether it's stocks like last July when they let loose the balloons on the floor of the NASDAQ when the Dow broke 14000, or anything......commodities, currencies, it seems like when every paper, TV show has how that investment can't be contained, it's running away, and the trade becomes too crowded and has everyone chasing it, it's at least a temporary top.   For the last week or 2 all the trading shows and internet sites and money magazines and money sections of papers have all been touting how the dollar has broken out and it's going to keep going, and all commodities are just going to keep going down on the strength of the dollar.  I'm sure a lot more people will race into the trade today and maybe the next week or more, because after such a big run up, it may consolidate for a while, may even have a false break a little through the 77s into 78+ to bring more in before dropping, but it seems like it's almost reached the end of this rally.  Any thoughts on this?

Thanks very much for the chart and info, Matt.

Has the wave b pullback already started in the GDX, Matt?  Thought the rally would carry it into resistance in the mid 38s before pulling back, but it started down first thing this morning.  How do you see it now?

DUG took off like a rocket...