I count the move down into early June as motive and that we are now in a correction that will kiss the blue resistance line from below while hitting the 50 fib. After that, perhaps we will see the big 3rd of 5 of 5 drop off that will push the odds heavily to Avi's model where a bottom in GLD is in the range $95-$105 (midpoint $100, a nice round psych support number...).
If we get the pullback into green B then I'll trade back into JNUG for the C wave (green C of blue 2).
Tuesday, June 9, 2015
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