As we speak, ES is moving to a new leading negative low, very strange behavior unless as I mentioned about AAPL, there are too many people trying to rush out of the same door at the same time as it starts to slam shut.
As for GLD/gold which benefits the most from dollar debasement/QE, it did NOT show any signs of positive divergences and I feel fine shorting GLD right here.
There's the triangle and there's our highly directional move expected this a.m., but even on a 1 min chart, 3C not only does not confirm, there's no hint of any positive divergence whatsoever!
The same with the horrible looking 2 min
And the 3 min
And the 5 min. Something isn't right here, but I'd still go with the signals and take GLD short here, I'm already loaded up.
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