GLD Update

I've had several emails about GLD today so I figured I'd just show you what I've been telling you.

First of all I'm not making any changes in the April $150 Calls, this is one of the reasons I opted for a longer expiration, there's a chance this is bigger than we think.

Here the SPY is green and GLD red.

 30 min chart, I've noticed more and more in recent days that Gold and the market have had an inverse relationship moving the opposite direction of each other, you can see it wasn't like that earlier this year, the trend recently seems to be something like that, but I really don't know if that is just coincidence or not, I've seen the relationship flip flop several times over the past several years.

 On a multi-day 1 min chart you can see the inverse correlation between the two, but the last couple of days it has been even tighter.

There are a few areas this doesn't hold true, but for the most part it does, today the market is up a bit and GLD down a bit.

 Intraday the 1 min chart is following price almost exactly so there's nothing wrong with that, the 1 min trend is leading gold/GLD so longer term it's bullish, today it's neutral.

 The 2 min chart showing recent positive and negative divergences and it's currently positive

 5 min chart is very positive with a leading divergence in what looks like a probable "W" base.

 The 60 min chart hints at the same, thus the longer expiration.

The history on the gold Futures (YG) is not as long as my other charts for GLD, but the 60 min chart here too is leading positive.

So I have no problems with GLD today.