I've not had the chance to read what Armstrong predicts for Gold over the next 2-3 months. I would like to chime in at this important juncture to welcome all Gold cycle followers to a shift towards the negative over the next while (thanks for understanding why I will not present an end date.)

As with all downward pulling cycles in recent history, one would expect a downwards shift from here lasting 2-4 weeks, followed by a gradual recovery for the balance of the cycle.

I appreciate Uncle Jim's cautionary stance against relying wholly on prevailing cycle sentiment when positioning one's PF. Yet this good advice must be weighed against the overwhelming desire and ability of TPTB to prop the system as bumps along the road transpire.

Many thanks to Mr Sinclair for dropping hints that confirms the EGM model's prediction of a negative cycle turn that is now underway. Interesting to see the Fed come out with short-term positive comments for Gold so close to Options expiry and a PM cycle turn date. Unlike last Summer's bombshell S&P downgrade of US Sovereign Debt ratings which had a lingering positive impact on PMs, I have trouble rationalizing how the Fed's latest announcement on target overnight rates through 2014 will have anywhere near the same lasting effect.