I have no clue on this mkt. I admit it. Why bother?
Collapse sets up a sell signal. Looking for a rally back to the 13dy to go short.
At this point there is still nothing in the price action that indicates which way Gold will break.
Bollinger bands are squeezing here with the upper band at 1309. Watching for a breakout. Also the monthly chart in GLD is at an inflection point.
long 1303.80 w/ stop below yesterday's low
Watching to see if we get a mav bull cross on the daily chart. If that happens I will look to buy on a pullback.
I used today to exit my remaining longs. It's a long weekend and the markets are very confused here. I'll take another look next week.
buy stop #2 at 1306.50...
sold 1/2 my longs at 1302.
Buy stop triggered. Now looking for a daily close above 1298.40