Fun and Games

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We should keep an eye on Treasury's right in here,although they have been bullish the Fed is issuing 92 Billion in new debt Monday-Wednesday. I'm expecting this to develop a Flat, but that is only speculation.With December a time of low liquidity that will be the time The Fed and g-8 can pull off their changes. I would expect erratic behavior out of currencies and the Market.                                                                                                                                                                     It looks as if the long term Wedge and the short term Wedge had the 16,000 on the Dow as the "Break-out Line". That would make the 5 % mark st 16,800 on a closing basis.

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The price action from Oct .28th appears to have 5 small waves and a rebound is expected.Maybe the Iranian,s ability to buy gold will give this a good "PoP", also it would be a lower a-b wave and b waves are  known for such pops. If you look at the retraces there is also a  x-a-b-c  that has formed and the numbers are not perfect but they are close for a  Butterfly configeration for an strong D wave projection. If it gives an bullish candle formation I'm not going to fight it.

EDIT: 4:45 am ct gold dropped $13 on open.