On the exact Gann anniversary date of the 2013 gold crash we are reminded who is still in charge. Also coming on the exact “blood Moon” where an eclipse takes place to announce the cycles of war and the escalation that is taking place.
Perhaps there is a lot more to the ancients and Old Testament so called folklore than “science” is willing to consider. But consider one thing. Science as we know it is always changing as we Un-learn. The Biblical record has remained constant since it was written.
Gold Futures Halted Again On Latest Furious Slam down
Submitted by Tyler Durden on 04/15/2014 - 09:30
It seems the two words "fiduciary duty" are strangely missing from the dictionary of the new normal's asset management community. This morning, shortly before 8:27am ET, someone decide that it was the perfect time to dump thousands of Gold futures contracts worth over half a billion dollars notional. This smashed Gold futures down over $12 instantaneously, breaking below the 200DMA and triggered the futures exchange to halt trading in the precious metal for 10-seconds. Palladium also got clobbered and was also halted. This is gold's worst since Bernanke 'tapered' in December.
The chart below shows the culmination of a $43 dollar slide in the price of gold. They halt the market on the exact low of that silde for 10 seconds and then everything clears up and gold moves up 20 dollars over the next four hours. Uh-huh.
European Stocks Tumble As Investors Rush Into "Safe Haven" Italian Bonds!?
Submitted by Tyler Durden on 04/15/2014 - 11:46
Consumer confidence slumps in the core and Ukraine fears weighed heavily on European stocks despite getting a push from the insanity in US equity markets this morning. Europe closed at their lows of the day led by Italy and Portugal stocks fading fast. It would appear that these worried investors greatly rotated into safe-havens such as Italian government bonds - which broke to their lowest yield on record today... makes sense right?
Russell 2000 Breaks Below Key Technical Level
Submitted by Tyler Durden on 04/15/2014 - 11:30
For the first time since Novemeber 2012 (when QE4EVA was kicked off in style), the Russell 2000 - that long-heralded indication that everything is great in the US economy and the indicator that stocks are great at discounting the future that is undoubtedly rosy - has broken back below its 200-day moving-average. In the meantime, an oddly dominant algorithm is swamping options markets with millions of fake orders..."rigged?"
Unidentified Fighter Jets Open Fire On Kramatorsk Airfield, Casualties Reported
Submitted by Tyler Durden on 04/15/2014 - 10:58
Things in east Ukraine have spiraled out of control. Moments ago Itar Tass reported that there has been a shoot out at the separatists-controlled airport in the city of Kramatorsk where according to on the ground witnesses, four Su-27 fighter jets have allegedly opened fire at the local airfield. It is unclear who the unidentified warplanes belong to although Itar Tass notes that one of the jets was allegedly taken down, so there should be confirmation shortly. Eyewitnesses also add that there are victims and an ambulance has been sent to the scene. Itar-Tass also adds that according to the newspaper "News Kramatorsk" three helicopters were circling over Kramatorsk.
Gold Chart
Gold came within 3 dollars of breaking the lows set on April 1st as a massive wave of selling took place. Support is the 1272-1282 area and then 1265. Resistance is now 1309-1313 and then 1322. Below 1313 the bears have the advantage at the moment.
Cycles
Here is the cycle chart as we have a direct hit on the cycle and exactly one year from the April 2013 low. On that day, gold made a low at 1322. Today’s crunch began at 1322 about 50 minutes from the London open and culminated about 13 minutes into the NY trade with a trading halt for 10 seconds at the lows of the day at 1284.40. Whether we have started a two week drop or we are making the low this week on the cycle is up for grabs. As long as we hold 1265-1272 and/or the line hit this morning its possible that we are making the lows. Silver doesn’t look like the downside is yet finished.
Silver chart
Silver has support at the 1880-1895 area on the chart and resistance at 1955-1973. It doesn’t look like the low is in on silver yet.
