Commodity, Currency, Gold, and Equity Market Analysis by Dr. Christian Normann   We have been heavily long gold futures since February, we have a long position in GDXJ (junior gold miners), and we are short S&P futures against those long positions. Gold bottomed at $1045, within one percent of our ideal target range.  Silver almost precisely hit the level at which a bottom was most likely to form. On February 12th 2010, we stated that gold was positioned in a rare setup that normally only comes along once or twice every 15-20 months.  Notably, silver, crude oil, and the CRB Commodity Index were also in equally rare and compelling setups.  We also said that: "Though there is no guarantee that any one trade will be successful, the odds now greatly favor a strong move up for gold, silver, crude oil, and most commodities."  Crude oil and several other commodities have faltered after having a good rally, but gold has since made new highs priced in all major currencies.  We do not expect to see gold back near $1045 again any time soon (quite possibly never).  On April 30th 2010, gold broke out from a cup and handle formation that projects a move up to near $1300 (or higher).  Our target is $1480-$1700 before the next major correction. For a long time, we expected major support for the U.S. Dollar Index around 74, and the dollar turned up almost precisely from that crucial level.  For months, we have stated that  "A top could be seen anywhere up to approximately 82, and only a weekly close near 83 or better would make us expect a potentially much larger, longer-lasting rally to unfold."  When a break and close above 83 did take place, we stated that the odds favored the dollar rally extending to substantially higher levels, with approximately 87.5 - 90 being the next likely target (which has now been attained).  Should there be a weekly close above 91, the next target range would be 97 - 103.  If not, the nearest significant support area is around 80 (82 - 78).                Last Updated:  June 20th 2010                 For Detailed Analysis, Click Here

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