GLD Update - Market Analysis for May 15th, 2025
GLD Update: Yesterday, we discussed the Price-Momentum confirmation of weakness at 292.48 that indicated lower-lows were likely into my next lower target window from 289 to 285.
Fast-forward to this AM, GLD has pressed to a lower low at 287.91 that was NOT CONFIRMED by my 4-Hour Momentum reading at 8 AM ET.
Off of the 287.91 low, GLD has recovered to 294.20 so far, which is our first indication that the correction from the 4/22/25 high at 322.42 is showing signs of exhaustion at 287.91.
That said, based on my nearest-term pattern work, GLD needs to climb and sustain above 295.60 to trigger a preliminary upside reversal signal... Last is 294.20...