MMM Weekend Update 7-7-13

Gold - The moon cycle can often have a ST effect upon the markets. Gold in particular, as you will see, has been under a 'dark moon' for many months now. Since September 2012, The greater majority of new moons have marked ST tops in gold. The current iteration that is centered on July 8th (+/- 1 day) has a trend that is moving down into it. If a turn is realized early this week with a rise that moves up above 1267ish, the new moon has successfully marked a low.



Last week I was looking for an ABC move to the upside, with more time being spent on wave b down than expected, the wave c of (iv)green top may come later this month if 1180.20 holds as key support.

Previous chart:


Update:


These anticipated ST moves have been good for trading, approx $80+ in profits over 6 days.



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Silver - My MT EW count suggests that Silver is working on an irregular, possibly a triangle, 4th wave correction. Afterward a final 5th down could finish the impulse down from October 2012. After a bottom is placed, I would expect at a minimum, a 3 legged move up to back-test the 3rd of a 3rd 'point of recognition' break-down.



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EUR-USD - This market has been in a well anticipated bearish mode since the previously identified triangle/thrust topping action with weekly OKR follow-though to the downside.



The QG3 MT swing trade signal also turned bearish, providing a Short signal.



The neckline of a bearish Head and double shoulder pattern was tested last week, a break of which should calculated as a projected target of 1.1800ish. Subscribers are well positioned to take advantage of such a bearish outcome.



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GBP-USD - The Pound is being pounded, as expected. Elliot wave, Candlesticks and QG3 all lent a helping hand in positioning subscribers on the short side of this market. Several hundred ticks in the green now.





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Have a great week,
Quad G