Gold / GLD Follow Up

I could have closed the GLD Call $114 position for over a +50% gain this morning, I know some of you did and I congratulate you.

I'm not sure what's going on with Gold very near term, but whatever happened with the fading of this morning's opening highs, looks to be part of something a bit bigger so I'm going to stick around for a bit and let it play out...

And whatever this is, it's effecting Gold Miners as well, they are just lagging a bit, so...

 Being the 60 min chart of NUGT (3x long GDX/Gold Miners) looks so similar to GLD and leading positive here...

Once the 1 min charts of GDX (above) or NUGT 1 min (Below) look similar to GLD's, I'll likely be opening a NUGT (3x leveraged long GDX/Gold miners) position as well. I suspect within the next day or so.

NUGT 1 min just needs t go positive. All of their other charts are very similar to GLD below.

GLD/Gold...

 The 1 min GLD chart leading positive after losing earlier gains, it looks like there's a lot more to this than just a fade of the opening gains.

There's migration of the positive divergence once GLD came back down toward Friday's close.

Here we have the same migration or strengthening of the 3C positive divergence as it moves to the 3 min chart and this in just 2 hours!

GLD 5 min also leading positive as if this morning's divergence was irrelevant.

And while I suspect this is a short term position for now... I can't ignore this 60 min chart (also seen in GDX and NUGT)

 GLD 60 min

Even the Gold Futures repaired themselves after giving up this morning's gains.

This looks exactly like a "Constructive pullback", in other words, sending price lower to accumulate more shares at a lower price.