GLD Update

As GLD continues to consolidate along the 150 ma as I suspected it would, it's losing all sense of correlations.

 The continued consolidation along the 150 day m.a. which is normal considering past visits to the m.a., what is not normal is the way we got there, it's a first as far as downside volatility.

 A few days ago GLD was a flight to safety trade, yesterday it showed positive divergences and is up about 1% today, clearly not a flight to safety trade with the market green. Now it is more correlated with the dollar, strange to see that in a couple of days, although I suspect it probably has more to do with consolidation then anything. This 1 min chart is negative.

 The 5 min is negative as well

 The 10 min chart is inline with prices

 and the 15 min hart, which had gone positive on past moves up is negative today, that's not a great development.

Even the leading 30 min which has been hopeful is showing some weakness here.  I would suspect it will pullback again tomorrow, however, for what reason/correlation, spin the wheel.

Continue to pay attention to how it reacts around that 150 ma.