Yesterday I received an update from Adam at Marketclub. It read something like this:

Gold, Is this the move we have been waiting for?

I believe the action in gold yesterday (Wednesday) should be looked at seriously as it pushes the gold market to its best level in almost 3 months.

In my new video, I show you what I think is going to happen to this market in the near term and the long term. I also discuss energy fields as they pertain to gold, and where our Trade Triangles are positioned in the yellow metal.

There is no need to register for this video and of course you can watch it with my compliments. I highly recommend watching this video today otherwise you risk missing out on what could be the move of the year.

Enjoy the video.

All the best,

Adam Hewison
President, INO.com
Co-creator, MarketClub

Unlike Adam, I am NOT bullish on gold, and today’s action furthered my opinion. Gold hit the “ceiling” at 1000 and proceeded to fall like the carpet had been pulled out from under it. There is some unseen and very strong force keeping gold from breaking out.

Take a look at this chart

There is a massive divergence between the MACD and the 3 points at which gold has approached $1000. Once again, gold hit $1000 today and couldn’t hold the break, and until it breaks through $1000 with a significant volume spike, and closes near the high of the day, I’m going to remain neutral on gold.

Last 5 posts by Steve Warshaw

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