Still the same

I am not into this bullish hype.

Still keeping my views that this rally is not the start of a new bull.

2 reasons. And that's the only 2.

1. Wave structure since Mar 09 is corrective, a double zigzag 5-3-5 x 5-3-5 or abc x abc. A bull market is impulsive and waves will be 1,2,3,4,5.

2. Vix is forming a bullish positive divergence on weekly charts which portends higher volatility ahead.

As per my previous post, I foresee a bullish breakout on Gold and it happened. I am long term bullish on commodities and precious metals.

If Fed is ready to increase interest rates to prevent inflationary pressures and prevent a USD collapse, Gold will drop initially, but will still maintain well above its long term trend line and continue to go higher even as Fed increase rates. The Fed will soon find themselves unable to contain high inflation. At one point, the continual increase in interest rates to prevent inflation will soon turn out to be creating contraction and disaster to the economy. That's when the 1929 depression style economy will set in. When that happens, look for Gold to peak as the traders prepare for a turn to lower interest rates again.