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Friends,
Sorry, I forgot to include the chart in the first post.
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Maurice and RT'ers,
Although I do not currently have an opinion on the Dollar, I can say that
Gold is looking a little better. I have attached a 60 min Point and Figure
chart of the XAU. Box size is 1.5 and the reversal size is 3. As you can
see, we had a "Triple top buy signal" issued yesterday. This same
formation can also be seen on the daily chart of the XAU. Further notice
the rising bottoms, this suggests that selling pressure is subsiding.
Finally, based on P&F statistics, a "triple top buy signal" is profitable
87.9% of the time, with an average gain of 28.7% in the next 6.8 month.
These stats can be found in Tom Dorsey's book, "Point and Figure Charting"
Hope this helps,
John Boggio
At 03:23 AM 3/27/98 EST, Mosonny wrote:
>Does anyone have an opinion about the dollar index, gold etc.
>
>I think the dollar is about to break down here, (descending triangle, after
>failure to make new highs, and over-bullish sentiment), and gold is turning
>up. At the same time, there is a good possibility the bonds are going to
>break down, and we may seeing the turn in a number of areas. BTW, I am
>looking at the Dollar Index chart.
>
>Does anyone see inflation instead of the deflation so many have "seen"
coming?
>
>Maurice Sonnenwirth
>
>
Attachment Converted: "c:\eudora\attach\xau0327.gif"
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