Gold is up 1% today or $22 to $2355.It's a decent rebound to start the week after heavy profit taking last Wednesday/Thursday. Technically, this was a damaging blow but on the daily chart, it's not as bad as the short term charts. It didn't even come close to testing the $2275 support level, let alone the old record highs in the $2075 zone.It's a reminder that this chart has gone super-nova in the March-May period and some profit taking was overdue. Overall though, I see the swift correction as a good sign. A bull market goes slowly up the escalator and corrects quickly on the elevator.Moreover, I think this image was as big of a threat to the dollar-denominated system as we will see in my l
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