GLD, on daily charts depicts a very grim picture. GLD not only seems to have lost some shine recently, but the outlook also looks grim. 14 day and 28 day cycles are observed in GLDs charts and while we are in the rising phase of the smaller cycle, price is not showing any strength. The Bollinger bands are in expanded shape. I would look for price to move sideways or come closer to its 20 day average. That should be a great position to buy some puts/ or short GLDs. Will be looking for other technical indicators for confirmations as trade develops
Comment:
as expected, price was expected to swing upwards towards 165 to 166, 20 d moving average. Look for weakness signs to buy puts or going short (negative bias) in my mind