Loading ...Party Pooper
I am concerned about this chart folks ( updated for End of of Day / Week )
Objectively…would you Buy THIS here and now ?
Great First move and definately a Bull Move after breaking out BUT we need a rest ( at least)
Too many Holes ( Gaps) left behind
Unfinished Cycle ?
Haven’t even hit the first Fibo yet
Looks Fragile to me.
50 dma support holding but 200dma is way down there….too far too fast ?
Hope I’m wrong
No one said it was going to be easy…riding the BULL…
Keep in mind that this product (GLD) is a surrogate for gold that is managed by bankers. It does not trade 24-7 like gold does.
At least three of those gaps occurred over weekends (May 31-June 3, June 19-22, and August 2-5) while the price was rising steeply.
I am thinking that some of gaps will not be filled, particularly the ones that occurred before August 1st.
I’ll stick with what Rambus posted on 9/18:
“This daily chart for the HUI shows the 38% retrace is still holding for now. We still need to see some type of bounce to show us where the start of the possible 2nd reversal point begins.”
I thought negative articles were verboten at the tent. Fully is breaking his own rules. 🙂
Golly, Fully, you sound like me back in May when I sold everything…..
I’m still locked and loaded …just seeing this potential short term top.