GLD Giving Gold Bugs Something To Cheer About

GLD from a BIG Picture perspective is certainly giving the Gold Bugs something to cheer about for a change. Today's upside thrust above a key 4-1/2 year resistance zone from 191.50 to 194.50 has triggered an intermediate-term upside target zone of 208 to 212.  Going forward, only a close beneath 192.60 will compromise today's major upside breakout... 

Putting the GLD chart into perspective, I have to wonder if gold is the horse telling us that the chart (the US Dollar-- DXY) is in serious jeopardy of nosediving in a major way... Last is 196.06...

  • 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!