GLD Charts and Position

I'm opening a September GLD $160 Put at a speculative size as I'm OTM on this which is something a little different for me.

Santelli says Gold is no longer acting as a QE probability indicator, but rather just the opposite, I'm not convinced at all, I think it may be more of a technical / psychological /Wall St. thing than anything, but I don't ignore signals like this so I added to 2 put positions already in place (Sept $157/$160).


Here are the charts, I'm not going to comment much because I don't think they need much commentary.

 Rather than Santelli's opinion, this break above a clear resistance zone on what is increasingly lower odds of QE now that it has been politicized, makes more sense technically/psychologically and just the way Wall St. does things.

 1 min

 2 min but not scaled quite right, you'll see, but the important thing is the change at the breakout.

 2 min locally

 3 min has enough history to scale properly, the 2 min should be scaled more like this, just doesn't have enough history, note the same change at the breakout. That would suggest a pretty decent size institutional short in place.

 3 min locally

 5 min-are you seeing a pattern here at the exact same spot?

 5 min locally...

 15 min with fast deterioration

30 min with very fast deterioration.

 30 min trend

60 min trend at a relative price divergence, this would be deeply leading negative on the most important timeframe before a daily.