Mike's Mid Day Minute is available to members on Monday, Wednesday & Friday evenings, with one article per week available to non-members. Members please login and see "Mike's Mid Day Minute" in the navigation menu towards the top of the page.

Gold Attempts Rally Off Trendline

Although the GLD was under pressure earlier today, and extended its two-week slide from 64.59 (11/30 high ) to the morning's low at 60.65, let's notice that the price structure is attempting to pivot to the upside off of the Oct-Dec support line (60.70). As we discussed on Friday, my overall work regards the upmove from 55.55 (10/04) to 64.59 (11/30) as a new upleg in an ongoing bull trend in the GLD -- and regards the weakness to 60.65 as a correction ahead of the emergence of a new upleg. We should find out if my "preferred" bullish scenario is correct in the upcoming hours -- as the GLD attempts to rally off of the Oct-Dec trendline.
  • Action-Oriented Trade Set-Ups in Stocks & ETFs
  • Macro Analysis of the Broader Markets
  • Detailed Technical Guidance for each Trading Idea
  • Live Interaction w/ Mike & Our Member Community
  • And Much, Much More!
Join Now! - Special Offer!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!