sp'weekly8
GLD, daily
Summary
*a clear break above the Oct' high for Gold, certainly bodes for more upside
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Let me be clear...
I will be reluctant to get involved until the next FOMC is out of the way, however, it is starting to get kinda interesting.
We have the first blue candle on the weekly 'rainbow' index charts, and if we close the week 'blue'...then that will indeed offer a simple short-side trade, with a loose stop at the recent high in the 1880s.
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Lets see how the bull maniacs do today...but probably far more important..is how tomorrow proceeds.
10.16am.. LIVE stream of NYC explosion
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Meanwhile, market is trying to rally, but so far...looks weak.
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10.28am... Bulls could do with a daily close in the 1870s...to get things back on track.
Anyway...without getting lost in bearish hysteria, it is interesting to see the weekly cycles flash an initial warning.
VIX +1%....and that should be a concern to the bears.