Gold Futures (U.S. $465.10)

On October 5, 2005 with gold futures at $468.50, I said my unique intermediate term and long term price momentum models both showed gold in a significantly overbought condition in an otherwise healthy long term uptrend. I was looking for a short term correction and waiting for a sell signal from my short term model.

With that short term sell signal now firmly in place, I'm looking for a meaningful correction.