I may be taking a risk of a premature call, but it appears that SPX is losing its grip on the rising trendline.
The pattern certainly appears complete.
GLD managed a triple zigzag correction to its 50-day moving average and possibly touching its Orthodox Broadening Top trendline again. This is a strange market indeed. Despite ZeroHedge’s bullish comments on gold, I am bearish both the metal and the ETF.
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