Gold: Reversal Now?

If the trend is in-effect as shown, GLD could reverse tomorrow or in the overnight session.

The senior miners (GDX) stalled during today’s session.  Price action is still at the Fibonacci 23.6%, retrace level.

To help clarify the firm’s positions, the following detail is provided as a courtesy only.

Several accounts are being managed.  Currently there are two open positions in separate accounts (not advice, not a recommendation):

Managed Accounts

Detail              Position         Stop

Short GDX     DUST             20.44

Short IBB       BIS                  25.46

Everyone has their own style.  Ours adheres to tenets laid down by three market masters from the early 1900s.  Detail on those criteria can be found here.

One of the reasons for choosing Livermore, Wyckoff and Loeb, is that no evidence exists these individuals were part of any full scale corruption or being the lap-dog for the globalist elite.

That statement is the complete opposite of what we have today. At this stage, the corruption and lap-doggery should be obvious to all.

Charts by StockCharts

Note:  Posts on this site are for education purposes only.  They provide one firm’s insight on the markets.  Not investment advice.  See additional disclaimer here.

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