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Bulkowski's Blog Archive: GLD
Class Elliott Wave Fundamentals Psychology Quiz Studies Setups Software Tutorials More...
Busted
Patterns		 Candles Chart
Patterns		 Event
Patterns		 Small Patterns
As of 06/04/2020
  Indus: 26,282 +11.93 +0.0%  
  Trans: 9,575 +134.48 +1.4%  
  Utils: 814 -17.21 -2.1%  
  Nasdaq: 9,616 -67.10 -0.7%  
  S&P 500: 3,112 -10.52 -0.3%  
YTD
-7.9%  
-12.2%  
-7.4%  
 +7.2%  
-3.7%  
  Targets    Overview: 05/29/2020  
  Up arrow27,000 or 24,000 by 06/15/2020
  Up arrow9,800 or 8,200 by 06/15/2020
  Up arrow850 or 750 by 06/15/2020
  Up arrow9,800 or 9,000 by 06/15/2020
  Up arrow3,200 or 2,850 by 06/15/2020
CPI (updated daily): Arrows on 5/15/20
As of 06/04/2020
  Indus: 26,282 +11.93 +0.0%  
  Trans: 9,575 +134.48 +1.4%  
  Utils: 814 -17.21 -2.1%  
  Nasdaq: 9,616 -67.10 -0.7%  
  S&P 500: 3,112 -10.52 -0.3%  
YTD
-7.9%  
-12.2%  
-7.4%  
 +7.2%  
-3.7%  
  Targets    Overview: 05/29/2020  
  Up arrow27,000 or 24,000 by 06/15/2020
  Up arrow9,800 or 8,200 by 06/15/2020
  Up arrow850 or 750 by 06/15/2020
  Up arrow9,800 or 9,000 by 06/15/2020
  Up arrow3,200 or 2,850 by 06/15/2020
CPI (updated daily): Arrows on 5/15/20

Written by and copyright © 2005-2020 by Thomas N. Bulkowski. All rights reserved. Disclaimer: You alone are responsible for your investment decisions. See Privacy/Disclaimer for more information. Some pattern names are the registered trademarks of their respective owners.

Blog Posting: February 22, 2008, Gold ETF (GLD)

The gold ETF

The ETF (exchange traded fund) shows what I thought a week ago was a head-and-shoulders top but it is not. Why? Because price never closed below the neckline. Instead, it morphed into a symmetrical triangle and broke out upward. Now, gold might -- just might -- be throwing back to the top triangle trendline before resuming the move up. I question that because lots of small candles occurred after the prior symmetrical triangle breakout and those did not result in a throwback. So, gold could keep on rising.

 

 

 

 

Top 

GLD Aftermath

Gold ETF GLD on the daily scale

Price began forming a congestion region the day after my blog entry above. The stock never returned to the top of the symmetrical triangle nor came that close, but price did drop some. After the bulls foiled the attempted throwback, price continued its march to the summit, making a new high. See my blog entry, March 18, 2008: GLD Rush at End (GLD)? for more discussion about GLDs behavior.

-- Thomas Bulkowski

 

 

 

 

See Also

Written by and copyright © 2005-2020 by Thomas N. Bulkowski. All rights reserved. Disclaimer: You alone are responsible for your investment decisions. See Privacy/Disclaimer for more information. Some pattern names are the registered trademarks of their respective owners. PBS virus: Your programs stop every few minutes to ask for money.