The price of*gold is still in the “Plunge” phase of the “Three-Peaks and a Domed House” pattern [and is projected to drop to the lowest price of the enitire pattern which is $1,300 per troy ounce. Yes, $1,300! Words: 868
So says Dr. Nu Yu (http://fx5186.wordpress.com) which Lorimer Wilson, editor of www.munKNEE.com (Your Key to Making Money!), has further edited ([ ]), abridged (…) and reformatted below for the sake of clarity and brevity to ensure a fast and easy read. The author’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article. Please note that this paragraph must be included in any article re-posting to avoid copyright infringement.
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Dr. Yu goes on to say, in part:
“Three Peaks and the Domed House” Pattern for Gold is saying…
My version of George Lindsay’s basic model uses a macro or “phase-counting” approach which is different from Lindsay’s classical micro approach (which uses “number-counting” from 1 to 28) in that it divides the “Three Peaks and the Domed House” pattern into five major phases as follows:
The “Plunge” phase typically comprises two powerful down-waves. The first down-wave from point 25 to point 26 has finished. Now gold could be still near point 27 right before the second powerful, also most severe, down-wave from point 27 toward point 28. The price target is projected at 1300 which is the lowest price of the entire pattern.
As the chart above depicts:
the “Three Peaks” Phase*- points 2 through 9 -*in gold developed*during the months of*November*and December 2010
the “Basement” phase (bear trap) points 10 through 14 -*formed in late January of this year when gold had a separating decline to reach a low at $1310 per ozt. in early February
the “First Floor” phase points 15 through 20 of the Domed House*was built during May and June
the “Roof” phase (bull trap) points 21 through 25 -*began in early July and concluded in August
The “Plunge” phase has been underway since early September and gold could now go as low as $1,290/ozt. to $1,300/ozt. before moving higher again.
Other Articles By Nu Yu:
1. Watch Closely! S&P 500 May Be Forming a “Three-Peaks and a Domed House” Pattern
The S&P 500 index is in the progress of potentially forming a â€œThree-Peaks and a Domed Houseâ€ pattern as shown in the chart below. [Take a look and see what the implications could well mean.] Words: 823
2. These Indicators Suggest Stock Markets Have More Upside – and Gold Some Uncertainty
A look at a variety of technical analyses all clearly indicate that the S&P 500?s run is by no means over. Here are some charts and an analysis of what they mean for the markets, the U.S. dollar and gold. Words: 1234
3. Pattern of Charts Suggest Gold and Equities Going Higher into 2011
My technical analyses of the future direction of the U.S. dollar, the price of gold and the American and Chinese stock markets suggest that the near term should be somewhat choppy but with a favorable upward bias for gold and the markets. Let me illustrate my findings with the following charts and explanations. Words: 965
4. Direction of Gold, USD and U.S./Chinese Stock Markets – w/e Nov.26
All is not necessarily as it seems according to market analyses on the anticipated direction of the U.S. Dollar Index, gold and the U.S. and Chinese stock markets.* The direction of one sector is up when all the talk is of its demise, another sector is muddling along when all the talk is about its dramatic future prospects and the other sectors have their share of surprises too. Let’s take a look at what the charts tell us. Words: 934
5. Signs of Strength in U. S. Dollar at Expense of Gold and U.S. Stock Market
Technical analyses suggest that the U.S. dollar index could well see resurgence in the short term with both gold and the various U.S. stock markets undergoing +5% corrections while the Chinese stock market rebounding from last week’s set-back on its way to record levels. Words: 732
6. Gold Performance to Continue to Lag That of Stock Market
Gold and silver have had a sharp move downward in response to China’s first interest rate hike last week while the stock market inched up.* It raises the question of whether gold is decoupling from the stock market. Words: 897
7. So Much For Gold! Chinese Stock Market to Outperform!
There has been a great deal of excitement about the recent performances of gold and silver with most analysts extremely optimistic regarding its potential. That being said technical analysis shows that it is in for some choppy seas ahead compared to the surging seas of the Chinese stock market. Perhaps today the refrain “Got Gold?” should be replaced with the words “Buy Chinese Stocks!” Words: 1004
8. Stock Markets Have Major UPSIDE Potential
The U.S. stock market finished the month of September with its best performance in 71 years, i.e. since September 1939. The Dow Jones Wilshire 5000 index, as a benchmark of the total equity market, has gone up 10% since September 1 and all my analyses indicate that the market could see continued strength until at least sometime after the November elections. Words: 614