[ABX] update

From the backlink I was waiting to see if the current pattern would turn into an HT or break out.




Per current snapshot below, I'm still waiting.  EWI thinks that the big bounce in gold has begun but I'm not convinced just yet but I will become convinced very quickly if ABX can break out at the red circle instead of putting in a standard e wave throwover and then breaking down to $5.  I have to say that ABX hitting $5 for a very short time, like down and bounce, would put a very nice finish on the 2011 bear.  This is just too low in order to expect a C wave to come along after wards unless the B wave is just seriously high.

The best thing for M+M would be one last "screw the longs until they scream in pain" capitulation run down to $5 and then vee up from there rapidly so that not many people get in on the dip.  If we see that then it has "Avi model" written all over it.