Gold the Rally Within

GOLD THE RALLY WITHIN

old has rallied getting back into the low 1700s, but not closing above the key resistance areas.

Let gold rally just a bit, and outcome the I told-you-so crowd. They shut-up with every decline,

but let gold rally for a brief second, and well they then view the whole future based upon a

single day's action. It is always best to let the market speak. No individual will ever be able to forecast

the future from a personal perspective. This is why I have stated countless times, the object of analysis is

to eliminate the human subjective views.

If we step back and just let the market speak, we will survive our own trading decisions. Pictured here is

a monthly chart of gold. People are all excited and gold has not ever exceeded the previous month's

high intraday. The Uptrend Channel continues to hold demonstrating it is not yet time to fall apart. The

year-end number of $1434 held for the close of 2011 further warning that gold would not simply break-

down. At the very least, gold now MUST close ABOVE 1637 at the end of January. The December

intraday high was 1769, so we have not exceeded even the previous month's high. There is nothing

remotely bullish just yet long-term. We would

have to see a month-end closing ABOVE 1755 just

to make things exciting. We need a week-end

closing above 1763 to signal a bull run into next

week. A weekly closing below 1640 will now warn

a reaction high is in place.

So far, there is nothing suggesting a reversal of

trend in gold. Failing to exceed the December high

of 1769.4 intraday proves nothing. Gold can still

move generally sideways into March/April before

turning down if not Bearish Weekly or Monthly

Reversals are elected.

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We will be holding three World Economic Conferences this year. These will be substantially

different from the Philadelphia Conference. That was a combination of an Analytical Training

Seminar and a World Economic Conference. Normally, each type of session is a two day event.

Consequently, these two events had to be crammed into two days. Unfortunately, we could not

accommodate everyone. We had to turn down 365 people. Traditionally, these events are

limited to 100 attendees. Because of the overwhelming response, the room was full to capacity

at 300+. That prohibited Mr. Armstrong from mingling with the crowd at the cocktail party and

he was unable to see each and every person. These three upcoming conferences will be

smaller, just forecasting, and will be two day events instead of the single day WEC which was

provided in Philadelphia. Seating will be $1500 per seat. Those who are interested in attending

please send your email to reserve a seat to: