$TNX:!PRII Monthly

I had expected a crossover below 70 RSI sometime during October, but could not foresee that it would be accomplished Oct 2.(we've seen this indicator pull back again and again, so wait for good confirmation)

Certainly the weekly chart is saying that the turn is in, measuring by this indicator. The high point was reached first on the daily, then the weekly, now we see the high in the monthly.

If you go by the same turn in 2008, where it was much easier to pick out price turns because gold prices declined precipitously in the crash, the gold price recovery was to the most recent high prior to the crash. There's a lot of work for bullion prices ro revive the bull market.

Through the fourth quarter in 2008, the indicator declined while gold prices advanced.

http://schrts.co/Keexry

-F6