Here's a video look at the charts with commentary heading into the new week.
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Losing Control?
Now What?
Gold: The Spiral Calendar & Cycle Big Picture
The monthly gold chart below shows a very nice 14 year cycle vibration from one of the major events in financial history, the closing of the gold window in 1971. The two subsequent lows mark the lowest price in the 1980s as well as the final 1999 low of that 20 year bear market. The next year in the cycle is 2013.
click to enlarge
The more interesting relationship is present in the Spiral Calendar - discussed within for subscribers.
All That Doesn’t Glitter…
Bitcoins Burst
This history of speculative, frothy markets peaking precisely on new moons, with examples such as the Northern Trust panic of May 1901, the 1929 U.S. stock market top, and the 1987 stock market top now includes Bitcoin, the alternative 'virtual' currency that moved to parabolic prices in recent weeks. Yesterday's eclipsed new moon saw prices peak at $266. per bitcoin about 5 hours after the eclipse. The rest, as they say, is history.
click chart to enlarge
About an hour after I screen grabbed that chart, the Mt GOX exchange that handles 80% of volume closed for 10 hours in order for markets to "cool off." Right now, on other exchanges that remain open, bitcoins are going for about $65. That's a loss of 75% in less than 36 hours. I expect bitcoins to be back in single digits within a few weeks.