etfmsolutions: GLD Prospects...03.01.17

Wednesday, March 1, 2017

GLD Prospects...03.01.17

Here's a quick look at the current gold ETF GLD and the trading opportunities based on the VDX and the longer term Ponzo forecast.
Note the current VDI+/- alignment....ready for a paradigm shift.
The general technical consensus on gold is bearish but a lot can happen to reverse that view...and it can happen in a flash. With odds rapidly increasing for a March rate hike and a sudden swoon in bonds today as all the majors blew through overhead resistance to brand new highs the momentum on gold has stalled. The next couple days should be instructive for golds near term prospects......if we get a rally follow through till end of the week then the markets will be prone to a pullback favoring gold.

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