"As a technician, I feel that there are few analysts that offer value for me, but you do. Your work on Gold ratios has helped my analysis greatly." --Jordan Roy-Byrne, CMT (The Daily Gold) 4.9.10

Wednesday, May 9, 2012

GLD Symmetrical Triangle updated...

Sym-Tri is breaking down... be aware that there are weekly signals that are unbroken, but the triangle is considered broken if this does not reverse quickly. Take it FWIW.

I would say the time to panic has passed, but the triangle is what it is.  Now that it has broken, it will either prove a false move or be validated.  I will now cease managing it because I do not want to act as a play by play caller to dynamic market events.  Too much of importance going on now, like the broad market tanking while the miners try to reverse their earlier decline for example.















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