GLD Update

GLD is looking very strong. /YG-Gold mini futures are confirming in just about every timeframe including intraday out to nearly 30 mins, for example take a look at the 1 min intraday and the 30 min with every timeframe in between confirming gold's move higher.

 YG 1 min confirmation.

YG 30 min negative which is one of the reasons I liked the GLD short which is at a -2.25% loss, I haven't decided what to do with it yet, but I do think GLD pulls back and I'll decide at that point as there's really no inflation argument to be made.

60 min YG with another reason I liked GLD short which was working out pretty well until this truly parabolic move higher and you know what I think of parabolic moves... thy tend to end in the same fashion as they started, just the opposite direction.

As for GLD and its signals...I'll update those shortly. I want to take a closer look at the market and the levers as it is really struggling here considering all of the firepower they have put behind a gap fill bounce.