GLD Drops

A bit fascinating, although not a huge move and way too early to tell if a new post-minures dynamic is in play, but Gold is probably the most sensitive QE asset out there and it drops on a good NFP print, "Good news is bad?"

We saw the negative divergences in both GLD and YG (gold mini futures yesterday...

 5 min chart of this a.m.'s open in GLD

 The daily chart with 2 previous failed breakout attempts or head fakes...

Yesterday's negative divergence in GLD...

And the 5 min 3C divergence in the YG-gold futures that continued through the night.

Still holding GLL.