649bruno
Long

Update: Gold Shares, Gold Miners - Strong Uptrends: Golden Ratio

AMEX:GLD   SPDR GOLD SHARES
81 0 6
Gold-is the likely safety trade for world currencies (and central banks) gone astray. A five wave impulse pattern just completed should lend itself to three minor corrective waves. The first pullback is likely to be Fibonacci .618, or $124-$125.
Let's review Don's TRADE-MAP approach:
TRADE = 1. T : Time and space (Fractals); 2. R : Repeating Cycles; 3. A : Advancing Trend; 4. D : Declining Trend; 5. E : Energy in Phase Forces.
.....MAP = 6. M : Momentum and Velocity; 7. A : Analysis of Structure; 8. P : Price Performance.
When I mention "Don's Top Ten Technicals", I use the elements of the "TRADE-MAP" approach:
1. The Ichimoku Cloud is rising. 2. GLD-Prices have risen above the cloud. 3. Prices did trade above the thick red Ichimoku Cloud Conversion line and held at the baseline. 4. The thick red conversion line is also in a bull trend. 5. The thick black line is the Ki jun-Sen baseline of the Ichimoku Cloud , which is rising and above the cloud. 6. The indicator on the top of the page is RSI / Stochastic , and this is strong-reversing off its bottom. 7. The top middle indicator is vortex and it is strong (consolidating, look for green over red). 8. The Top (bar-type) indicator measures the "phase energy" of-GLD , and this is EXTREMELY STRONG, drifting down during consolidation. 9. The green fractal arrows are up (not shown). 10. Look to the far right on the chart, around $126. You will note a yellowish line on top (lips), with black dots below (teeth), and a blue line (jaw) below the black dots. Now, all three are closing, correct? This is where I ask you to use your imagination and envision these three items as the "closing jaws of a SLEEPING alligator which will re-open after a corrective phase" (three minor a-b-c waves).
The metals complex (gold-silver-aluminum-platinum-etc.) has been strong for an extended period of time.
In my opinion, GLD-GDX-XME should all continue higher.
I will close with another quote from Alfred E. Neuman: "Most people are so lazy, they don't even exercise good judgement!".

Good luck to you. Don.
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