GLL/GLD

I'm still holding the GLL position, it's not intended to be a long term position, but whatever the market seems to want to give is what I hope to take and then re-evaluate opportunities from there.

Although GLD and GLL both have some important charts that suggest GLD downside and GLL upside and even though GLD has gapped down about 1 % thus far this morning, I'm a little concerned with the opening, less concerned with the big picture of the position.

 GLD below support this morning.

 GLL (Ultrashort gold ETF) 15 min leading positive

 GLL 30 min leading positive

 GLL 60 min leading positive, the important charts look like they have excellent probabilities.

 The GLL 1 min chart however failed to confirm the gap up, at least so far this morning.

 GLD 1 min is positive on the gap down on a 1 min intraday chart.

Of course the longer term 60 min GLD confirms the longer term GLL charts, I'm just expecting some volatility and probably today, longer term I'm still fine with GLL.