GOLD UPDATE

You can check on last night's Daily Wraps that has some charts for GLD,  Leading Indicators: A Tale of Two Tells .

I still think GLD comes dow on a swing basis and today's charts seem to continue to confirm, again as a swing-type trade, we'll look at a new long after that.

  Gold Futures 60 min larger scale. We had an accumulation period in GLD and gold futures shown below that sent Gold up higher, but since a negative divegrence which can be seen above.

 Gold Futures 30 min shows the distribution area of recent more clearly.

The GLD charts have been reflecting the same thing, see last night's post and GLD charts for the longer term view, but near term on a swing basis, they should still come down.

 This is the 5 min leading negative divegrence in effect since yesterday

 The 2 min trend of the same area, also leading negative in the same area and calling for a pullback.

And the 1 min intraday seeing continued leading negative divergence.

I suspect we'll see the move start next week.

While the GDX (Gold miners) charts are not as clear as GLD itself, the two tend to move together and there are enough negative divergences that I believe GDX falls as well and DUSt rises, remember, this is on a swing trade basis, maybe a week or two.