[GLD] update

At the backlink I was looking for a dead cat bounce starting anytime:



While GLD hardly moved today, JNUG was down another 6%.  So when GLD bounces I expect JNUG to really move strongly.  Per current snapshot below, GLD is sitting on some important support.  I will be a bit surprised if it cannot bounce off this point.  We will know if GLD is avoiding the big sucker bounce if it moves below that falling green line tomorrow.  If it does continue to be supported here, the bounce will likely move quite high as shown in order to create a right shoulder of head and shoulders.  If that happens and then the neckline subsequently breaks down as shown below then the bottom could be in the low $90 range, likely providing a once in a life time buying opportunity for the miners.