Posted Mar 12, 2013 by Martin Armstrong
The Dow rallied for the normal bull count of 11 days reaching 14475.40. A closing below 14333 will signal a pause and a close below 14218 should signal a retest of the mid 13,000 level.
Gold needs a closing above 1588 to signal a pause in trend for now. The low on this move came on Friday at 1563.6 just below the low on 03/01 at 1566.3. Gold has still not broken until it takes out those three MONTHLY bearish reversals then we will clean out all the weak longs. This will enable gold to form a solid base from which to stage the next rally. Only a weekly closing back ABOVE 1689 would relieve the downward pressure short-term.