The black doom candle did warn of today!

Once again the black candle of doom was correct in warning of a top in the cycle, both GLD, SLV, and the miners all suffered today - even though the market was showing broad strength for much of the day.

So much for all that hysteria that the Gold Bug maniacs were touting across the web last Friday.


GLD, daily

SLV, daily

Summary

Nothing has changed...if sp'1100 is hit in the coming 1-3 month, that equates to gold $1200... Silver $20. The weekly and monthly cycles still support such an outlook.