Most of these images were scattered about on the various technical analyst's sites, complete with charts that were quite convincing, eloquently listing all the reasons why there was no stopping gold from going up and no stopping the US dollar from going down.
How things have changed.
A dip in gold here, a blip in the dollar there, and these same analysts are now saying there's no stopping the US dollar from going up and no stopping gold from going down.
Their reasons and rationale are all there, of course. Just as they were when gold and silver were going parabolic.
Far too many technical analysts have become little more than cheerleaders that conveniently switch from one side to the other, depending on which side is winning.
While being bullish on gold was "in vogue" with chartists just a few months ago, the fashions seem to have have changed.
"Green's the thing now, honey, did you miss the memo?"
Apparently, I did.
