Quick GDX / GLD look...

The reason I decided to split a single position among two assets was because they are closely correlated (Gold and gold miners - GLD and GDX respectively), but I thought there may be some difference or rotation in them because of the QE sentiment, whether it went positive or south, so I decided to create a position that allowed for rotation rather than picking one or the other as they have been trading so closely correlated lately.

In any case, there's clear weakness in GLD vs GDX on a relative basis

 GLD in green, GDX in red, I think this has to do more with the QE sensitivity of gold which miners would have much less exposure to.

 This is GDX this morning on the dip, it looks like intraday 3C accumulation is going to send it higher.

The same with GLD.

I'd like to see a bullish engulfing pattern in GLD, engulfing yesterday's very thin range. The gap lower is a pre-eequisite for a bullish engulfing candle.