Monday, September 15, 2008
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Analysis by Glenn Neely President NEoWave, Inc.
GOLD
Information contained herein is believed to be reliable, but the publisher cannot be held liable for errors or omissions. No specific advice can be construed from the following. The reader is solely responsible for all action taken.
DAILY Plot
Trend next 5 days: Volatile / Sideways
NEoWave LOGIC:
NEoWave ANALYSIS:
Expanding Triangle (from April 1)
Last week I forecast “…a strong rally into the $860+ range this month, followed by more consolidation.” That strong rally is currently underway and should be about half done. A wild run above the August high should be enough to get the Gold bugs jumping again, but it will be short-lived. Deflation will be in full force by mid next year! For assistance, write to
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From 2008’s high to low, Gold has declined almost $300! Even so, bullish sentiment has stayed above 50% the entire year. Not only are we in unusual times, Gold’s sentiment signals a long-term, bearish environment. NEoWave, Inc.
NEoWave Forecasting (Daily plot) is transmitted Mondays NEoWave is Glenn Neely’s scientific enhancement of R.N.
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