GLD Follow up

 Longer term there may be some base building in GLD, GDX and GDXJ's long term 60 min charts look good and there's some correlation between the miners and GLD directionally. I closed the GDXJ calls yesterday at a profit expecting a pullback, they have moved a bit higher today, but still look like a pullback, so this is a short term Put position on a pullback move in GLD.

 The 30 min chart's trend is pretty bullish, but the recent negative divergence looks like a pullback move is coming and with a negative divergence out to 30 min., it could be a decent size pullback.

 The 15 min chart is confirming the 30 min with a leading negative divergence.

 The 5 min chart looks even worse as it should as the shorter timeframe's weakness bleeds in to the longer timeframe like the 15/30 min. charts above.

The 1 min looks especially strong in the leading negative, so this looks like an opportunity, probably not worthwhile in a straight short position so I chose to use some leverage with puts.

The fact GDX/J also looks ready to pullback is also encouraging for this quick trade.