?So the constructive dynamic here is that gold posted the double bottom around the $1,180 level.  We then saw the bullish weekly reversal.  Gold has now clearly broken out above the downtrend.  Gold is also above the 55-day moving average and heading toward the 200-day moving average, which is coming in at $1,306.

The gold market is picking up momentum.  If you go back to the similar move in 2012, it was at this point that the gold market began to accelerate to the upside, especially once gold broke above the 200-day moving average, which as I said is currently at $1,306.  What is most impressive here is how gold has continued to rally, even in the face of a strong bounce in the equity markets.

We are watching the area of the last high, which comes in around $1,362, but the most important level by far is going to be the $1,434 level.  This was the peak that was seen in gold during the bounce last year.  For us gold looks clearly set up to head in the direction of that major level at $1,434.

It will be incredibly important to see how gold acts if and when it gets up to that $1,434 level, whether or not gold can break it decisively and get a weekly close above the key area.  If we do get a weekly close on gold above $1,434, it would strongly suggest this move is going to take us significantly higher in gold -- possibly even to the area around $1,650 to $1,700.? (see chart above)

Eric King:  ?Tom, it sounds like we should expect more pain for the gold shorts.?

Fitzpatrick:  ?I don?t know how painful this is going to be for the shorts, but everything we are looking at here suggests the push to the topside has much more to come.?

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The Market Makers are now so  FRUSTRATED  that they are calling  names, and giving threats. This means that there is some form of effect on their MARKET OPERATIONS on the 3 ABLS counters and those related to them.

My forecast and prescription since late January on  DOWNWARD  pressure (realized but the buying process MUST not STOP) had yielded results for those who had bought on those prices and buying more now as it FALLS. The downward pressure is Heavy and will move down swiftly from HERE. Make sure you have the spare cash to HOLD. As SMALL LONGS, we have to act in UNISON as the process is now in place and we have to stick to the PLAN to BUY even more now. The Market Makers will have a difficulty in managing the portfolio when we continue to buy with spare cash.

My intent is to help others (small LONGS) who are affected by the 3 ABL counters. For those who have bought on very HIGH prices have to BUY even more NOW and BUY much much more at 30% to 50% Levels.