GLD - October 10, 2012

The weekly TopFinder of GLD has been indicating the potential for some sort of a top by reaching 70+ percent

There is resistance forming around 173 at this time


Support is 157-162 area

On important thing is for GLD to keep outperforming S&P and for miners to keep outperforming GLD

When it comes to gold, for every ounce of the metal, there are tons of experts. I shall ignore them all and concentrate on price action -- pure and simple ;-)


Investing in the financial markets can involve considerable risk. Past performance is not necessarily an indication of future performance. All information included in Market Time Premium reflects ongoing thoughts of Market Time authors about market-related issues, and is prepared for educational purposes, and is presented as authors’ observations, and is not a solicitation, or an offer to buy or sell any security or use any particular system. Information is based on historical research using data believed to be reliable, but there is no guarantee as to its accuracy. Market Time Premium, its author(s), and its affiliates do not represent themselves as acting in the position of an investment adviser or investment manager. Market Time Premium, its author(s), and its affiliates shall not provide you with personally tailored advice concerning the nature, potential, value or suitability of any particular security, portfolio or securities, transaction, investment strategy or other matter. From time to time, Market Time Premium, its author(s), and its affiliates may hold positions in securities mentioned, but are under no obligation to either divulge or hold such positions.