Gold is now due for a corrective move. Its rallied 15 out of the last 17 days and is now moving into the timing band for a cycle low. My best guess was that gold might make it to around $1240 before that corrective move began. Today was pretty close.
If stocks have one more leg down before the final daily cycle bottom then a move down by gold at the same time does make for a tidy little theory.
More in the nightly updates.
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