The Hui is now in the process of working through a potential 1-2-3 reversal. I suspect that eventually congress is going to pass the bailout package. Once that happens the hyperinflationary signal will be given. The dollar will weaken and gold should take off. The timing band for gold to make it's trading cycle bottom is between Oct. 6- Oct. 20. I think the longer Congress delays on the bailout the more the odds increase that the Fed will surprise with a rate cut. Either outcome is going to be inflationary and positive for gold.
Market Direction Change
2 weeks ago