Tuesday Dec 27, 2016
Telescoping is the process of going from a very long term view to a shorter and shorter term view
yes as though one were looking through a telescope. The idea is to provide persespective.
Monthly Gold to Dollar
dMonthly charts are decisive but very slow moving. Signals come much later than on
daily or weekly charts But, this long term view suggests the ratio has not hit bottom yet.
Weekly
The point of this closer look at the weekly chart is to get an idea of the market ratio
holds above the previous December low. If not we are surely headed for the low at 8 set during the financial crisis.
Daily
Yes the market is moving sideways during light holiday trading. But it moved sideways in Sept, Oct,
and now Dec. The MAs show no sign of bottoming yet much less ;crossover to the upside.
Two Hour - A switch to GLD, paper gold, and UUP anETF of the dollar was necessary to see a two hour version.
It never hurts to use other substitutes to test the validity of the hypothesis. And here we
have not had any break through on the two hour chart to the upside.
So we wait.
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