Gold Yearly

Today starts a new approach here at Fox Market View. We will move away from focusing on the cash S&P500 and begin to view other markets and other time frames. The plan is to rotate through each in sequence (including the S&P) but I will be flexible. I‘ve decided to start with the world gold index.

Today‘s chart is on a yearly time scale. As everyone knows we have been in a powerful rally for years and this chart remains bullish. However, be aware that 2010 will most likely see TD Setup bar #9 printed. If this is the case, and since setup has already been perfected, the yearly chart will signal that at least a correction may be due on this time frame. But that is in the future. This chart, as it stands, is bullish. The targets shown are derived from TD Trend Factor (purple) and Gann (grey). Tomorrow I will take a look at this market’s quarterly chart.

Technical Analysis of Chart positions for longer-term positions:

Dollar Index: Out. (0.65 point loss after 1 trade). Darn! Looks like I closed this long too early! If able to punch through 76.8-77.05 this will signal continued bullishness.
World Gold Index: Out since the 1161.80 close on 12/4. Watching 1101.20 to see if support develops.
Cash SP500. Out on a close below 1083.74.

Waiting for initial signals on the following charts: 10 yr Bond Yield and the CRB Index