Gold and Dollars

By -

I was going through tonight's Short-Term Update from Elliott Wave International, and they seem to be back-peddling a bit about their call for Primary 2 ending late in August. Not that I blame them – – a breach of 1039 on the /ES is going to spike the market in a big hurry.

I found this particular chart included in the update to be kind of interesting; it shows how the rally in gold has been very much a "US Dollars"-based event. If you view gold in other major currencies, the rally simply disappears.


I'll think of something else to say later, but I figured you guys had dealt with In Trutina quite enough.