31st day of QQQ short term down-trend; Stage 4 down-trend in gold

GMI2/6
GMI-23/8
T210830%

The GMi has risen to 2 and the GMI2 to 3.   The Worden T2108 Indicator is at 30%, in neutral territory.   I am still waiting to see how far this bounce from oversold territory will go.   I own calls on DDD (one of Judy’s picks) and own puts on   GLD.   I remain largely in cash as I wait to see if this rally can strengthen. This weekly chart of GLD shows a Stage 4 pattern of weakness.   Gold weakens as the dollar firms. Click on chart to enlarge. A close of GLD below support, around 148, could trigger a steep sell-off.

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