Precious Metals – Forex - Stock Indices - Commodities

November 17, 2008

“Time is more important than price; when time is up price will reverse.”
W.D.Gann

REPORT

The gold price on the last trading day of 2008 must close higher than the closing gold price on the last trading day of 2007 if the pattern of continuous year to year closing strength is to be maintained. The pattern of the year end closing gold price being higher than the previous years closing gold price has been maintained since the year 2000. The list posted below represents the closing year end gold price for the years 2000 through 2007.

The current price of gold as of November 14, 2008 is $742.50. There are approximately 26 trading days left in 2008.

$839 or higher is the target for the 2008 closing year end gold price.
GOLD YEARLY CHART WITH YEAR END CLOSING PRICES

If gold does not exceed last years closing price of $838 by the last day of trading in 2008 it will be sending a signal. This would be the first year since the gold bull market began that a year end closing price failed to close above the previous year's closing price. It has been and still is my contention that the next important long term high for gold bullion will arrive early in the year 2010.

This chart showing the Delta Long Term turning points is the reason for my confidence. They are amazingly consistent within a predetermined range of time. A turning point number has been entered on this chart directly above and below the appropriate month of arrival for the turning points shown. Once LTD # 3 low has definitely bottomed the next high at LTD # 4 is not due until February 2010.

GOLD MONTHLY CHART

There is a reasonably good probability that gold will close over last year's closing high of $838 by the end of this year. The reason is that the Delta Medium # 8 High is due in the month of December 2008. Delta turning points do not provide us with the price at arrival but they do provide us with the approximate time of arrival. That, in and of itself, is amazing.

GOLD WEEKLY CHART

"The Delta Phenomenon is the basis of all market movements relative to time. It is the basis of all technical analysis. It is the most basic thing about markets. It is the beginning point. All other methods of technical analysis pale when compared to the fact that there is perfect order in all markets. The Delta order is perfect. That is, it always follows the defined discipline that rules it. I have solved the Delta Phenomenon for many different markets over hundreds of years of data and I have never seen a failure of this order.

Perfect order, however, does not mean that Delta high points and low points are perfectly accurate relative to time. They are not. However, they are close enough to the predicted date that the order is obvious when viewing market action through the Delta perspective. Once one sees this order, he will never be able to perceive markets in the same way again."

Welles Wilder

Subscriptions to the Rosen Market Timing Letter with the Delta Turning Points for gold, silver, stock indices, dollar index, crude oil and many other items are available at:

Stay well,
Ron Rosen and Alistair Gilbert
The total world's holdings of gold could be transported by a single solitary oil tanker.

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