via Sharelynx - Gold eWave

For the Gold eWave price projection to hold firm and not be disqualified, gold prices will have to rise to new highs and just keep going.

Certainly the fractal price projections and 3-wave extension elliot wave count of Alf Field has already been disqualified, because the model does not fit the price progression.

Any and all of the price models can be easily disqualified if the gold price strays too far for too long.

Remember in the collapse of Lehman bros., Barclays has now accumulated all of the bond-related ETF assets, and an index, notably the Barclays Capital Bond Composite.

They also own the ishares Silver Trust, which means that if there is another collapse of a bank in the aftermath of the LIBOR scandal, the silver trust will divest. Barclays' does not have a gold fund.

Lehman was said to be gathering a substantial position in gold long assets, and what followed was an utter collapse of the gold price once the bankruptcy ensued. That long asset was liquidated in 2008. What happened after the MF Global bankruptcy in 2011, and the PFG banktruptcy this year was hypothecated accounts that were liquidated and had seen downward pressure on the gold price.

Its no mystery. JP Morgan, one of the bullion banks with an interest in seeing a decline in the gold price, or perhaps an interest in mainting LIBOR through the gold forwards rate, GOFO may very well have used up all of the loopholes in its ammo belt.

So with the presumed next domino to fall, Barclays, they will be obliged to sell all of their bond-related assets, where GBN.V is strongly inversely correlated. But they don't have gold assets to sell. Something to keep in mind.

Sharelynx eWave Gold

http://www.sharelynx.com/chartstemp/GoldeWave.php

Dax In Gold

http://www.realterm.de/DAXinGold.php

-F6