GOLD: Gold has has everything but the kitchen sink thrown at it but the best bears have been able to do is form a triangle consolidation.

SPX: Stocks have generated the fifth strongest rally (in therms of breadth) since 1957 and it hasn’t taken gold down.

USD: The dollar has surged higher out of a DCL and it hasn’t taken gold down.

EU: Day 40 and very late in the cycle.

The euro is due to complete a cycle low and rally. If the rally makes higher highs and the dollar lower lows, then the triangle will be a midpoint consolidation with a final intermediate target between $1350-$1400. This is why you don’t short a baby bull. They can go much further than anyone expects because they are still locked into the recency bias of the bear market. I’ve been warning that when gold broke the manipulation it would result in a very powerful rally. We are getting it now.