As I said yesterday, I would expect a little more upside today, perhaps a flat trading range, we are apparently in stage 3 Distribution, stage 4 is decline.
Friday, August 26, 2011
GLD/SLV Update
Both are progressing as expected from yesterday's updates.
GLD 1 is continuing its negative divergence seen yesterday
Same with the 2 min chart
The 5 min chart is also showing a negative divergence
And the 15 min continues, we are not at a reversal quite yet, but moving through distribution.
SLV 1 min continuing to grow the negative divergence
The 5 min is getting worse
As I said yesterday, I would expect a little more upside today, perhaps a flat trading range, we are apparently in stage 3 Distribution, stage 4 is decline.
As I said yesterday, I would expect a little more upside today, perhaps a flat trading range, we are apparently in stage 3 Distribution, stage 4 is decline.
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