23rd day of QQQ short term up-trend; Gold in a BWR down-trend

GMI5/6
GMI-24/8
T210850%

Here is   a weekly GMMA chart of the gold ETF, GLD.   Gold is in a BWR down-trend with all of the shorter term averages (red) declining below the longer term averages (blue).   This is the opposite of the RWB rocket stock pattern I have discussed before. Note GLD’s RWB pattern during the up-trend through mid-2011. (The green lines are prior multi-month bases at all-time highs.)

GLDweeklyGMMA

1 thought on “23rd day of QQQ short term up-trend; Gold in a BWR down-trend”

  1. (personal) Dr. Wish,
    Today’s return of 0.9 to 13.3%, average 3.90% for 6 stocks of 51,000$. I am contented but still careful and cautious. I have always sold too soon, maybe i’m mistaken this time.

    Thank You for your observations and encouragement. See you next spring !!

    Paul S. 11/13/13

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