GLD/SLV

Gold still hasn't made a new intraday high, it's $.06 off.

Here's the current chart

There's an apparent negative divergence and lateral trade

Looking at the 5 min chart though, I'm not seeing anything here that looks ominous for GLD, it looks like most consolidations, whether they break up or down, so there may be some consolidation occurring to prepare for a move to that intraday high only 6 cents away. I'd actually prefer to see that happen as the 3C readings at that point would be more decisive as to whether the move is supported or a false move. Based on everything seen up until today, GLD looks ready for a downside reversal, unless a situation such as Japan or Israel is now being re-discounted.

SLV, not surprisingly being it has been the stronger looking of the two, has made a new intraday high by a comfortable margin.

 There has been decent confirmation on today's move with the small exception of the last 10 minutes or so.

The 5 min chart is very much the same.

I suppose now it''s Blythe Masters' move.