REPRINTED FROM 5/16/2010

Gold Weekly (Log Scale) <Y>

-E-
We’ve seen plenty of strange “doubles” and “triples” that have not adhered to
good duration principles, but a Y-wave “should” be shorter in duration and price -C-
than the W-wave. In the model presented here, the <W> took 5 years (nice (Y)
Fibbo number). If the <Y> is going to <W> by 61.8%, then we should see a
three year move which would conclude in August 2010.
-A- - D -?
(W)

<Y> Wave Price Targets: (X)

<W>
$1,218 for 61.80% of <W> (log scale) -E-
$732
$1,450 for 78.62% of <W> (log scale)
$1,387 for 61.80% of <W> measured from
-B-
the top of <W> (log scale)
<X>
$643

-C- (X)
(C)

(A) (Y)
-D-
-A- (B) (W)
(C)

(A) -B-

(B) Three Year

Five Year Move?
Move
B

Andy’s Technical Commentary__________________________________________________________________________________________________

 Gold Weekly (Log Scale)
<Y>
This model remains my best interpretation of the price action over the last -C- -E-
decade. It’s impossible to count the move over the last 10 years as an impulse-- (Y)
there are WAY too many triangular congestion patterns prevalent across various
stages of the wave development.
-A- (W) -D-

(X)
<W>
-E-
$732

-B-
<X>
$643

-C-
(C) (X)

(Y)
(A)
-D-
-A- (B) (W)
(C)

(A)
-B-
(B)

Andy’s Technical Commentary__________________________________________________________________________________________________

 Gold Daily

The market has broken the proposed B-D trend line which indicates this triangle
concluded. We should be in the beginning stages or longer term correction if <Y>
this model is correct. -E-
-C-
(Y)

-A- -D-
(W)

(X)

-B-

<X>
$643

Andy’s Technical Commentary__________________________________________________________________________________________________

 Gold August Futures Daily
There seems to be a complete count here and the market has witnessed a good
decline from the $1,265 peak. However, the “pace” of the decline is not impressive, <Y>
especially when compared to the drop highlighted in the blue box. -E-
“c” (E)

(C) “e”

-C-
“a”
“d”

“b”
(A)
(B)
(D) (D)

(B)

(E)
(A) -D-

(C)

Andy’s Technical Commentary__________________________________________________________________________________________________

 Gold August Futures Daily

Move Ends Here

So far, the move down from the highs is best counted as a “complex” correction and
not an impulse. The bears will be hoping for another sideways -x- wave to set up
(b) the last wave down (z-wave). As it stands, we have a possible completed count
coupled with a robust bounce*, so it’s time for shorts/bears to be “nimble” with
positions.

(a)
[2]
-x-

[4] (b)
[2]
[1]
[2]
[3] [4]
[1]
[5]
(c) [1]
[3]
-w- [5]
(a) [4]

* Sharp bounces on Fridays should be treated with some skepticism. [3] [5]
(c)
-y- of a?

Andy’s Technical Commentary__________________________________________________________________________________________________

 Gold August Futures ~ 240 minute

With the break $1,175 resistance last week, that level has now become the first
support point for bulls. In the very near term, this market feels like it’s “no man’s
land.” Sideways congestion from here would obviously be bearish--the gold bulls
must prove that Friday’s nice rebound wasn’t just short covering before the
weekend. $1,186 looks to be the important “pivot” point for early this week. A
break above $1,186 should clear room for a move to $1,204.

1215

1204

1186

1175

1167

Andy’s Technical Commentary__________________________________________________________________________________________________

 Gold Monthly (Log Scale)
The minimum timing objective of this Supercycle C-Wave has now been met and we can count a completed “double.”
Given the huge length of the B-Wave, it’s very possible that this C-Wave has more time. It could last another 2 - 6
years. Outlined here would be the count that would last longer* and possibly set a new high in the next few years.

C
-Z-
-Y-
(Jan, 1980)
$873
A -X-

-W-

-X-

(Nov, 1974)
$191 B C - Wave Price Targets:
$260
(Feb, 2001)? $1,295 for 123.6% of A
$1,418 for 138.2% of A
$1,615 for 161.8% of A

$101 * “If there is a way for a wave to take longer to complete, then assume it will.”
(Aug, 1976)
$35
(Aug, 1970)
Andy’s Technical Commentary__________________________________________________________________________________________________
 Gold Weekly (Log Scale)

Check out the huge diamond shape of the whole pattern. I don’t know of any
impulsive patterns that look this way. Therefore, it must be a corrective from the
Cycle lows of 1999-2001. Any wave count that attempts to label this advance
an “impulse” is incorrect.

Andy’s Technical Commentary__________________________________________________________________________________________________

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This report should not be interpreted as investment advice of any

kind. This report is technical commentary only. The author is Wave Symbology
NOT representing himself as a CTA or CFA or Investment/Trading
Advisor of any kind. This merely reflects the author’s "I" or "A" = Grand Supercycle
interpretation of technical analysis. The author may or may not I  or A  = Supercycle
trade in the markets discussed. The author may hold positions <I>or <A> = Cycle
opposite of what may by inferred by this report. The information -I- or -A- = Primary
contained in this commentary is taken from sources the author (I) or (A) = Intermediate
believes to be reliable, but it is not guaranteed by the author as to "1“ or "a" = Minor
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