gold seems to be suggesting we may go over the cliff...

SPY vs. GLD over the last few weeks....

The only cliff that matters ...

The Bernank is trying desperately to figure out a way to push the Russel 2000 higher without ramping energy prices but as can be seen in the chart  BNO (brent) and RUT-x (Russel 2000) are not playing nice.  Looks like a flag (flying at half mast) is about to end with a break out higher which will crush the working fool just as taxes are about to get jacked up his ass...  time has run out on the fiat games.

Late 07 vs. now in terms of RSI momo... kinda freaky

GLD vs. all else...

If you measure from when all was blissful in the world 05/06 and through all the manic post crisis fed printing. The one asset that appears bubblish is gold when compared to everything else that should have been impacted the same way as a result of the fed desperation,  i.e. the CRB (crbq), Russel 2000 (rut-x), copper (jjc), gasoline (uga)  If you use debt markets as your fortune teller (despite fed molestations) one would have to assume that gold has gotten ahead of itself...

AAPL looking like it wants to stall out at it's .618 fib line measured from it's channel stop..

I prefer to measure from the channel top (not that stop running momo chasing nominal top) when looking for possible limits to counter trend moves.  I'm thinking AAPL is ready for that 470ish price area in tandem with SPX 1250ish and gold getting slapped down. Until at least we see obvious signs of the fed printing press kicking in....

Copper not really trying to feel the luv gold seems to be feeling

looking at JJC with GLD in the background.....

Gold which has been front running everything the fed does..

and this 1750 area which is the 2/3's fib line and the top of a corrective flag should be the end of the run higher and I expect will roll over and plunge in a C wave like move which lead stocks lower...