so far the has given us good signals of market turns at each of the extremes
Nov 2008 low $8.87 gave us a buy signal, which rallied to May 2011 high $49.78
then giving a sell signal near the high again at the very extreme of 4 on the scale.
The BUY signal was given on an extreme of -2.5 on the and confirmed with the
breach of the long term down sloping from the high which had been acting as
This is very for gold too.
Silver can now go test the old high, gold will follow. Anyone short is now trading against the trend.