This GLD weekly chart above was updated today and looks like GLD is going through further base building with possible positive divergence... Looking to see if the positive divergence holds and leads to a rally...
The breakout to the down side is looked at in more detail in the charts below.
This GLD daily chart above is courtesy of eSignal, shows that the sell off today was a "possible" completion of an Elliott corrective impulse wave...
Below is another precious metals chart with another indicator...
This XAU daily chart above is courtesy of Worden Bros. and has recently been giving some good signals in the oscillator below the price chart... It also displays a potential positive divergence also...
Today's sell off in equities, bonds & gold would indicate we are in or will be in a deflation period...
But we need to see more than one day of this type of action to firmly come to this conclusion...
So where did the money flow to today ? The US Dollar ?
Past performance is not indicative of future results.
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