SPDR Gold Trust (GLD)

[georgewrasmussen]

If the sar breaks to the upside in the next day or two (it is almost there now) you will have another short leg up. But GLD is getting top heavy now and needs a correction.

If the Sar does not break in the next day or two the correction will happen now.

Based on my system my buy in would have been on 7/26/12 and also based on my system I would have been completely forced out of the position on 9/12/12. This is using the daily charts.

On the weekly charts I would have taken down all of my profit but kept in my initial investment on 9/21/12 from jumping in 7/26/12. The initial investment on the weekly looks like it has another week to two weeks left to ride out, maybe even longer.

So summation, in the short term expect a dip, with continuing longer term uptrend.