Gold may be the latest market to be forming a falling wedge, thus signalling for us to take a look. I started mentioning these as far back as late March, and on April 2nd, in The Function Of Form noted:
The mere fact that they're starting to appear, whether they fail or not, is significant. As Victor Neiderhoffer would say, the "form" is changing. By that he means the market's personality may be starting to change. Heads up.
Gold may be telling us something very soon. It could rise into the 1680s, but if it breaks hard below 1530, a lot of cold water will be tossed on the inflationist argument. Once again the credit markets will have figured it out first.
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