I was wrong on GLD–for now. It actually bounced up off of support, giving me a possible buy signal. I closed out my puts yesterday. Meanwhile, the Worden T2108 indicator is now down to 71%, lowest reading since early September. See the weekly chart of T2108 below, click on chart to enlarge. The T2108 is a pendulum of the market, and when it starts down the market usually declines for a while. So, I am getting more cautious and ready to close out some positions at the first sign of real weakness in the leaders. With the GMI at 5, I am still holding on.
