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.
