GLD failed to break out over 170 on stronger weekly volume. Volume off the top last week, and this week inside on lighter volume, that's a transition candle. 162.07 weekly support is all that's holding it here.
Just tested 162.01 here on BLOWOUT VOLUME.
IF GLD falls < 157.5 (DTL - see daily chart), it's time to SHORT the beast ==> tgt 142.
Edited by beta, 21 December 2012 - 01:10 AM.