Friday, September 7, 2012

GLD Bonus Charts

Here's a look at Gold Futures, I haven't used 3C with these particular futures before, but this version is pretty robust.

 If this version of 3C is correct with this future (I can tell from doing some back and forward testing), then the lows at the pre-NFP release were accumulated, the move up on volume is EXACTLY 8:30 a.m. when the NFP was released, this should clear up any doubts about gold acting as a QE sentiment indicator.

Since yesterday's regular session in dark blue, the overnight session saw gold futures moving to lows well below yesterday's regular hours trade, again at the white arrow is the 8:30 Non-Farm Payrolls release.

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