GLD Update

I was just talking to a member yesterday about HFT's and how the market seems to fill all gaps since they started dominating trade, it seems as if every gap gets filled which is what most people have always expected, but it didn't use to always be so true-at least not to this extent. Before HFTs there were such things as breakaway and exhaustion gaps and they were reliable, now it's fairly certain that the gap will be filled, but there's little certainty as to when.

GLD has filled "most" of the gap today, perhaps it finishes the job, perhaps that's it, but GLD is starting to look pretty good as an add to or a new position for those interested (long) in this area.

 GLD daily is pretty close to having filled the gap, but not quite there, if there are decent signals though, it's enough for me.

 On a 5 min chart the gap of course looks a lot bigger...

The 1 min chart has gone positive since pulling back, the 2, 3 and 5 min charts aren't quite there yet, but I would consider at least a partial entry in the area.

The GLD 15 min chart has been the strongest GLD chart, it has pulled back along with price as you'd expect, but still looks great as far as the longer term trend in GLD is concerned, I'd consider phasing in to a new GLD position or adding to an existing one here, I'd prefer to save a little room to add on a little more downside, but I don't think it would stop me from getting involved here if I had an interest in GLD, which I do have, but I'm already involved.

Futures don't look like they are quite there,  quite there yet, but working towards it.