GLD Update

I just saw this on GLD's holding's from late last week after the Swiss National Bank's surprise move that put FX several brokerages out of business overnight,

"Total Gold ETF physical holdings rose 0.85% on Friday (following Thursday's 0.78% rise) combining for the biggest 2-day rise since Nov 2011 (adding 843,000 ounces of gold in 2 days). Of course these moves came right after the SNB decision ands are the largest since the peg was announced in 2011. "

As for the charts, the Daily chart looks not only parabolic, but slightly bearish candles closing off the highs on heavy volume, indicative of bearish churning.

 GLD Daily, note the long upper wicks of the last 3-days, as price has closed well off the intraday highs on heavy volume in a breakout area.

While the intraday 1 min shows a positive divegrence at the end of day Friday, the intraday today has gone negative.

As has the 2 min which is leading in a stronger way.

And the 3 min, but these are all intraday charts. The more important charts are ...

The 5 min which shows a cycle, but also a clear negative divegrence

The 10 min

And a very clear 15 min, ironically right in the area of the last 3-days daily candles and volume.

While I didn't include them, the 1-60 min charts with the exception of 1 timeframes (of 7) are all in agreement with the above- all negative, agree. I'm going to give the charts the benefit of the doubt and give them time, it looks like solid confirmation, perhaps just interrupted by the recent rise in physical holding's during the exact same 2- days last week and today of course.