GLD - September 21, 2012

Seems like good support has formed around 154-157 area of GLD

Current TopFinder curve (dashed red) is around 89%. The previous one ran 99% before running into trouble. The previous one never touched any of its successive support curves (purple curves) through its course


The initial launch of the current run was slow for a few weeks, but it then took off nicely and went vertical


It would be good if it could do whatever consolidation that it may need at any point comfortably above the 154-157. That would be a lateral, healthy consolidation above support.

Meanwhile, weekly momentum cycle has been positive

It would be good if momentum cycle stays positive or only does a short dip into negative

On a daily, GLD has been outperforming S&P

On a weekly, GLD has been gaining performance against S&P but not outperforming on my proprietary RPA indicator

It would be good to start outperforming S&P on a weekly basis

So, I want lateral consolidation above support (if consolidation is needed), I want TopFinder curve to run full, I want daily outperformance to continue and cause weekly outperformance


Is that too much to ask?


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