Thursday, October 4, 2012

GLD Update

It's still very early with GLD, but if things keep moving/migrating the way they are, we may very well have a quick/nice trade.

 The 1 min chart's trend for reference.

 1 min chart intraday starting to lead negative.

 2 min chart was relative negative on the open, now starting to lead negative

 3 min chart is starting to lead negative. I'd like to see this continue through the 5 min which is in line intraday so far.

As for gold futures.

 The 1 min chart is still sloppy.

The 5 min chart shows a better trend, it's leading negative here.

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