The Markets

Gold has been unable to get through the Bullish Reversals in the 1800 area. Even our Quarterly Bullish stands at 1955. The Daily Bearish is 16880 and a close below that will signal a test of support first at the underlying Minor Weekly Bearish found at 16480, 16160, and 15795.Once again, it is timing that counts. Gold is not going to be ready for prime time until the fat lady sings in Europe.

In the Dow, the Daily Bullish stands at 1333900 followed by 1360610. The Weekly Bullish stand at 1369790. Here we have timing target the weeks of 12/17 and 12/31.

Th interesting aspect is that liquidity has shrunk. This is a serious issue for as governments do not respect the rule of law, many are now hoarding cash rather than investing in anything. This will shift in 2013, so pay attention to volumes.