GLD revisits its neckline and pulls back.

GLD is finding resistance at its neckline. A revisit to the 20 day moving avg. looks to be a logical place to go next.


Last Wednesday, I mentioned how critcal $160 on GS was and that a big move would be coming. Sure enough the next day GS bursts through $160 on Thursday and then rallies another 2% on Friday. However it is coming into resistance.


For the SPY, I mentioned the critical level of $114.30. I said if the bears don't hold $114.30, we will see new highs! The high on Friday? $114.34! The bears did maintain $114.30 but they will have to shed blood this coming week.