$GLD seems to following an inverted cycle still and that may portend that although a large counter trend rally looms it may be corrective. Will see if the behavior reverts at some point
So as expected inverted cycles have played out for $GLD and GOLD should head higher from here into Thu CLOSE this week. Choose your stops.
if the markets are closed tomorrow, shall we see a high on friday instead of a high on thursday’s close?
An inverted high on Fri OPEN is likely but overall if you refer to annual cycle chart on the blog (http://smartpblog.files.wordpress.com/2013/06/20130619-gld.png) GOLD is moving higher into 7/8 at the least for now
Thank you for the chart. Pls tell me how to read the chart.
how to find out the next low after 7/8 from the chart?
Do you have similar CIT charts for sp 500?
With CIT’s you await the CIT date and judge the DAILY CLOSES and see if it is a H or L, then look for the next date. As an example, see why I predicted 6/28 as a L from 6/5 H. 6/6 had a lower low and 6/5 H was never exceeded and rest was simple. In the current scenario, we exceed 6/28 H – so direction is up into 7/8 at the least.
Yes, I produce these charts for most instruments and my subscription service is primarily focused on E-mini S&P. Thanks!
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