This Past Week in Gold

GLD – on buy signal but still no set up yet.

SLV – buy signal failed and SLV is back to sell this week.

No harm done as there was no set up.

GDX – buy signal failed as we are back to sell this week.

Our small position was stopped out with a small loss.

XGD.TO – buy signal failed as we are back to sell this week.

No harm done as there was no set up.

Summary

We were stopped out with a small loss because only one out of four ETFs had a set up. All four are now in a bearish config, which favors short set ups over long set ups. Obviously we will not short at these levels, but to wait for a rally when prices are at the EMA resistance.

Disclosure

We do not offer predictions or forecasts for the markets. What you see here is our simple trading model which provides us the signals and set ups to be either long, short, or in cash at any given time. Entry points and stops are provided in real time to subscribers, therefore, this update may not reflect our current positions in the markets. Trade at your own discretion.

End of update