Yes , thats what I was thinking, that the uptrend is lower. May even be as low as 500 but sometimes uptrends dont get hit for many years. Where is the dows uptrend for instance or the dollars downtrend? The 164.72 through 121 downtrend also has good resonance with price for the dollar

This is the chart mentioned from last week showing the ihs neckline test at fib and the uptrend channells fwiw. Judging by this mornings action it might be possible the testing is done. Odd we havent had the 8:30 smackdown

 huimonthly.png

Here is a post from July 21 2007 suggesting  a run to 1206 due to the ihs in gold,usb looks weak lately and may soon fall through that uptrend mentioned  a year + ago and as gold has been testing that neckline. Will that be the driver for gold?

 http://arch0708.goldtent.net/2007/07/21/swenlin/

ps I suppose that was a response to Swemlin being bearish on gold at that time. Right before it went on the largest run in 30 yrs…….