Gold Update

It looks like GLD's stop run flameout (intraday capitulation event) has taken place...

 With the last two days forming pretty clear support, a stop run before a move higher makes pretty darn good sense.

Intraday this morning the volume surge on a bullish candle indicating a selling event or mini capitulation event has taken place looks to have occurred at the hammer (white arrow) above.

I'd like to see better 1 min 3C confirmation of accumulation of hit stops, if I do, I may ad to the GLD call position from yesterday.

As I said though, the important charts like this 10 min chart are still i place and sttill look very healthy for a move to the upside.