Cycle Trading

[No-Quarter]

Gold was overbought going into last weekend. It had a nice run and is due for a pull back I believe. I am also thinking the current bear market rally is topping. We needed follow through from last Thursday's short covering rally, the rally due to the surprise CPI number. The follow-through on Friday was less than impressive to me. Today's rug pull near end of the day is more evidence for me the next leg down is near.

If/when the next leg down begins, I believe gold will go down with it.

I bought GDXD today to position myself. GLTY