$TNX:!PRII Weekly

The $TNX:!PRII weekly chart is showing a rare technical condition which has been discussed in Institutional Advisors' newsletters, which is a very reliable assessment of impending reversal, either at the top of a market, or at the bottom.

Mostly Institutional Advisors has been relying on Tom Demark, or the Demark indicator since this technical condition can give you a signal and then go a year without seeing the trend change, but I think this particular technical indication is best with commodities related markets. It can be used for just about any market you care to analyze, and is especially suited to the weekly chart.

When the CCI(8)and the RSI(14) cross simultaneously from overbought or oversold conditions, this is a sign of upside exhaustion, or impending springboard rally. This technical condition is lined up with a grey dashed line. Often times you can get a 'close, but no cigar' but this time is a clear crossover.

I would be looking for strongly improving fundamental conditions in the gold price. As if they weren't the most spectacularly good conditions for the gold price in history. The monthly chart of the same indicator should be providing confirmation in February.

http://schrts.co/nG2izA

-F6