Gold Daily Chart and a Comparison of the 2009 and 2010 Gold Rallies

If the 2010 gold rally lasts 98 calendar days, or approximately three months, that targets October 31.

If the 2010 gold rally results in a price increase of 27% that projects a target of $1,480.

St. Crispin's Day is 25 October.



The Battle of Agincourt

SP 500 and NDX December Futures Daily Charts

US Dollar Weekly Chart

The dollar appears to be headed lower to test the next level of support on the weekly chart. A target for the euro might be closer to the 150 level but probably not much higher, as foreign central banks continue to shift reserve from the dollar into other stores of wealth.

Gold Daily Chart

Another range day in which the Comex tested the limits of the large open interest in holders of October futures coming into the delivery process. The speculative shorts who got excited and jumped on at the bottom of the range got stuffed on the snapback rally later in the day.

Learning to wait for the moment when the odds are in your favor is the great lesson of trading. Life truly is a school of probability.