Waiting for Godot

The gold market is slowly establishing higher lows and lower highs a clear pennant formation usually leading to an upside breakout. Today’s call by Soc Gen to short gold is another of big boys pounding the table about how bad gold is. Perhaps they are right, but gold is not quite ready to roll over. It’s amazing how the stock rally continues despite ISM still below 50. Sell at the lows and buy at the highs. The tumult surrounding Donald Trump’s candidacy is probably putting a bid under gold. Foreigners must be asking if this is indeed the fall of the Roman Empire part 2. They’ll take a little gold as insurance.