$GLD Showing Sign of Revival - But Don't Hold Your Breath

The current panic in the stock market is fueling the rise of the conspiracy theorists, who fundamentally believe that moving to gold will safeguard their future when the bomb drops and they need to pay for fuel in gold coins. Unfortunately for them, this is never going to happen (or if it does I will be long gone).

However, there is a sudden perk up in the technicals for gold, both RSI and CMF are showing that the GOLD RUSH is starting. Having spent the last 5 years in a bear market this could be something to enjoy. But let's not get too excited, $gld is way below the Ichimoku cloud, and it will take time to turn around your devastating bear attack.

I am remaining neutral on this. There is a sign of something good, but gold's fate is in the hands of the stock market.