GLD Update

GLD continues to have a negative tone to today's trade.

 The 15 min chart is nearly making new lows.

 The 5 min hart is in a leading negative divergence on the breakout from the "bullish" consolidation pattern. I emphasize "bullish" as these are often head fake setups. The more obvious the pattern is to retail technical traders, the more likely it will be manipulated or used against them by the Wall Street trading firms, especially HFT algo firms.

 The 2 min chart is in a leading negative divergence when t should be confirming price in a strong trend.

 And the hourly chart which shows our accumulation period of roughly 4 days, is now at it's worst 10 days in to the uptrend, which is roughly about the period of time I would expect for distribution of a 4-day accumulation period.

Most ominously, Money Stream is negative on the daly hart. Money Stream rarely gives signals, but when it does, they should not be ignored. The depth of the divergence seen above suggests to me that my original theory that GLD would pullback to its long term median price at the 150 day moving average is still very much alive and well as a strong possibility. Should this occur, we may very well have a 1 or 2 time a year, excellent buying opportunity that has shown to be reliable.