Here is the Primary Indicator for GLD day. Adding today’s data, I've indicated with the circle where the Primary Indicator is making a lower high having been way above the upper green line in June. As a result GLD will go lower. Strange considering the worldwide mayhem but there you go. I'm reverting to my old trading philosophy: ignore the fundamental information and the news, all you need to know is reflected in the numbers.
A Look At The GLD
The Daily Primary Indicator for GLD takes a downward turn after today's action and will go lower.
Disclosure:
No positions in stock mentioned
Comments
Log in or sign up to join the conversation.