ONE UGLY DAY FOR MARKETS ALL AROUND

 

“Well, in gold, that escalated quickly to the downside didn’t it!?”   

Markets have got some serious mental issues … viz., they’re run by central 

banks, move nowhere without permission, and then either die or go total bat 

shit crazy … if trading markets were your kids, you’d have them committed 

and never released.

I’ve said for ages, gold is a completely “asymmetric” market, where bull runs 
aren’t anything like the bear raids … today seeing, the entire week’s up move 
get obliterated within a few hours. Round up the usual suspects from the  
“Rally Protection Team” [RPT], and it’s look out below. What a bunch of shit, 
but as I’ve also stated previously, there isn’t any way possible for gold to rally 
up past 1350, unless we get some kind of debt crisis and/or dollar crisis going 
on, and from the looks of the economic corpses of Japan, the Eurozone, the 
U.K., and China, we aren’t there yet. Until you start to see the dollar get really 
hit, plan on gold sub 1350, and the way things look today, it looks once again 
like 1280 is gonna be under attack going forward … if that gives, look out 
below.

Cable on the other hand … did the Queen declare a holiday today? … just 

checking, cuz today sees one of the worst trading days in my memory in 

GBPUSD … what’s anybody to do with an effective range of about 25 PIPS 

over 9+ hours? … and the daily chart sees further compacting of price in the 

sedge its built over the last month … traders sick & tired of the comedy show 

“Brexit”, and simply walking away from Cable today … what a shitshow.

So, gold gets what gold usually gets when the banks say “enough” … and 
they aren’t shy about clubbing the shit out of price quickly … Cable simply 
dies. Nothing really left to say about it … onto tomorrow mi amigos 
… Onward & Upward!!
 

Have a great day everybody!

-vegas