Holiday ‘Hello’s’ to all you money tiger trackers out there.

I hope you’re getting ready to settle in for a long winter’s nap (Holiday-wise anyways).

Best wishes for this Holiday and for a prosperous and less confusing New Year.

Here’s a little update on the blog sent out yesterday.

SHANGHAI COMPOSITE STOCK INDEX:

In yesterday’s observations, I mentioned that the Hang Seng Index was tipping over the edge, but, that the Shanghai Composite Stock Index wasn’t at that point – YET.

Well, what a difference a day makes. It seems that overnight, as we suspected, the two markets came closer to alignment and agreement on a future direction for trend:

DOWN. Here’s the chart.

The downward movement of this market into alignment with the Hang Seng ups the odds heavily that there will be a break to the downside that is fast and noticeable.

Now that the world has turned to the Chinese markets and China in general to see if it is pointing the way to prosperity, the time is ripe for a disappointment to new investors.

What will appear as losses to us will be profit-taking by the true money-tigers of the East.

Money is leaving Gold, the Euro, Australian Dollar and other currencies and is going into the US Dollar for some reason we’re as yet unaware of.

Money needs to go somewhere to work and commodities (excepting the precious metals) and the US Dollar seem to be some of the prime destination spots for this flexible, global traveling cash.

GOLD: The Gold market hit our bottom resistance price area of $1080 which we set a week or so ago.

So, I would set the next step down in price before a rebound (and for a high probability bottom for this cycle) at between $1036.40-$1046.50 ( assuming Cash Gold’s high as $1226 NY Spot).

I favor the lower end of the range as likely.

We’ll just wait and see how the gold trend develops.

As the chart to the left shows, price trend continues in a decline phase on the 30-day Gold price charts.

This blog will have a few days off as we draw closer to the Holidays, but, I’ll be posting some thoughts before the New Year on other markets and trends. - George

P.S.:

A reminder: These posts are for educational purposes only concerning my own private methods of analysis and are not recommendations or advice to buy or sell  or to really do anything except to observe, along with me the rhythm of the big money tiger traders and institutions working at what they do best – swinging and manipulating market prices.

Legal Disclaimer: The content on this site and articles are provided as general information only and should not be taken as investment advice. All information on this site is given for educational purposes only.

The content on this site is provided without any warranty, express or implied. All opinions expressed on this site are those of the author and may contain errors or omissions.

NO MATERIAL HERE CONSTITUTES “INVESTMENT ADVICE” NOR IS IT A RECOMMENDATION TO BUY OR SELL ANY FINANCIAL INSTRUMENT, INCLUDING BUT NOT LIMITED TO STOCKS, OPTIONS, FOREX, BONDS OR FUTURES.

The Money Tigers Group © 2011

Tags: WD Gann, stock market prediction, gold traders
The Excalibur Method, gold price predictions, timing the markets, money tigers, trading education, gold price charts, e mini trading, technical analysis

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