This weekly chart suggests to me that GLD’s consolidation may be over after it again finds support at its 30 week average (solid red line). Why is gold rising?
Meanwhile the GMI remains Green and at 6 (of 6).
General Market Index (GMI) table
GLB: $CURE as health care stocks move up
The 3x triple leveraged health care ETF, CURE, has broken out to all-time highs.
The GMI remains at 6 (of 6) and on a Green signal.
$ADBE had above average volume GLB on Friday; GMI=5 and Green
While not all GLBs (green line break-out) work out, they are worth monitoring for a low risk entry. If I bought ADBE now (weekly chart below), I would exit immediately if it closed back below its green line. My loss would be about 5 points. Always set a real or mental stop loss and calculate your risk before entering a position. Be sure to check out the table of the performance of selected recent GLBs by scrolling down on this page.
