GLD Update

GLD was a recent long position that was mentioned, because of the choppiness in GLD I only assigned about 2/3rds a normal size position and it' a bit above this level at about a 1% loss so I still like GLD here. I think there's a chance it fills the gap and if it does, I would definitely want to take a look at GLD long, I may even consider it an add to depending on how it acts in a potential pullback. Other than a potential pullback as we want stocks to come to us and not chase, I like what I see here.

 GLD 1 min intraday has been negative, but that has pretty much only caused a lateral consolidation after the gap up this morning.

The 2 min chart is also negative, but that's where it stops. If the 3 min chart and 5 were negative too, I'd feel very strongly about a pullback, right now there's only the 2 charts suggesting such so I can't say it's VERY high probability. I still like GLD though even right here.

 The 5 min chart is leading positive.

 As is the 10 min in a big way.


The 15 minis also leading positive, there's a slight relative negative so this may also speak to a pullback/gap fill, but overall it's way more positive than negative.

And the 60 min chart, leading positive, you can't ask for a much better looking set of charts than that