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THE SPIKE EFFECT
posted on
Aug 08, 2008 10:39AM
Forget about Elliot Wave, 50% retracements and all that old stuff in trying to figure out what is happening today and just look at the charts of the last couple of years.
Every time gold and silver took a big spike up or down it was a prelude to a major turn around
Todays gold and silver spikes down and the US dollar's move up indicate a reversal in those markets.
I actually breathed a sigh of relief when I first saw the charts this morning.
