Mirrored Charts: NASDAQ's Classic Top, Gold/Silver Bottom
Gary Savage | Sep 30, 2015 05:59AM ET
Remember how I said the NASDAQ would test all-time highs but wouldn't make any significant gains without first suffering some major correction? On the chart directly below you can see its classic topping pattern, while on the chart beneath of the Philadelphia Gold/Silver Index (XAU) you can see its mirror image, a classic bottoming pattern, both caused by big money driving price above or below to engineer an exit or entry at the top or bottom.
A marginal break and reversal of the 2000 lows would be a classic bottoming pattern for the XAU, just like the marginal break of the all-time highs was the top for the NASDAQ.
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