Larry Edelson, of Uncommon Wisdom Daily, provides his near-term and long-term technical and cyclical analysis of the gold market. Additional discussions include the US Dollar, Dow Jones and oil. (Video blog follows excerpts below)
We’re really about a year away from the big moves down in the Dollar and the big moves up in gold. Cycles aren’t always right, but the evidence I have says that this is not the big next leg down in the Dollar and not the next big move up in gold.
On to the Dow – the Dow is holding quite nicely. I expected it to pull back a little bit more last week then it did, it hasn’t. We may still yet see a pullback there, however, the short-term, cyclicals in the Dow and broad stock indices continue to show higher prices for the next several weeks. Don’t run out and buy stocks based on that statement.
Watch Larry Edelson’s Video Blog September 10, 2009