Greed addled bulls say December Cu shows how bullish it all is. Gloomy Gus says risk is high in two primary ways: 1) Risk of reversal into deflationary event and 2) risk of an inflationary hysterics breakout, which will require the long bond to do its thing and break down the barn door by our most important long term technical indicator, the monthly EMA 100. It has not done so during the decades of the current continuum, but I guess there is always a first time for everything. Anyway, here's the Doc this morning, by monthly chart...
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"As a technician, I feel that there are few analysts that offer value for me, but you do. Your work on Gold ratios has helped my analysis greatly." --Jordan Roy-Byrne, CMT (The Daily Gold) 4.9.10
