The big glaring point is a three pointed divergence on the . Other indicators are also oversold, and have the whole road available to travel.
Also, previous behavior in GLD is that it often forms these V-bottom patterns when it reverses...and often times 50% (or much more) of the move retraces in the subsequent days-weeks.
As such, I'm taking GLD here. Currently at $144.33... $121 is my first target, and I believe it would get there before the end of September.
JMJ - IUOGD
After we see the close tomorrow, I'll post what I'm seeing as an official comment on the idea, or make a new idea altogether... thanks!