Simple Trading Update GLD As of Close 8 February 2016

The gold ETF GLD is showing life after several years of trending downward.  I’ve written about GLD multiple times (most recently here, here, here and here).  Each time I talked about the monster downtrend and how the yellow stuff needed a big move to the upside (and above TAOST Value Zone) before one could even consider a purchase… Looks like the global political and economic turmoil that is our current situation has generated just such a move.  That’s not to say that the trade is “automatic”… But it certainly means it makes sense to keep your eye on the shiny stuff…

GLD W 8 Feb 2016

 

 

The Quarterly GLD chart shows a strong reaction to a pretty big technical support zone…

GLD Q As of 8 Feb 2016 Close

As always, mind your risk and use a bit of common sense.

KIS,

The Trader