Inconspicuously, GLD Claws its Way Higher

Although no one even mentions the action in GOLD because of the hysterical advance off of last Thursday's low in equities, let's notice that SPDR Gold Shares (GLD) has broken out of its near-term sideways, high-level congestion zone-- to the upside, which has triggered a projected next target of 124.00.

Only a sudden sharp downside reversal that breaks back down through the congestion zone to a 118.40 print will invalidate the very constructive signal.