I don't like this move in GLD and I do

I think this morning's move in GLD is not to be trusted, in that sense I don't like it, from a potential short position entry, I do like it.

 For timing's sake, false breakouts have always been pretty good indicators of a reversal. GLD hasn't mad a new high in the trend which is bad for the near term outlook, but it did cross recent resistance this morning. This is the daily chart with resistance at the red trendline.

 Here's a 1 min chart of GLD crossing that daily resistance, look at buy side volume swell.

 Price action is getting very fragile as it starts to wedge. Often there's one final pop above a pattern like this before a reversal.

 And the 5 min 3C chart is not confirming today's move up,

nor is the 1 min chart.

Just something to consider.