The GLD trade from June 15th was stopped near yesterday's close when GLD broke below and closed below 173.00. Today GLD gapped down over 2.0%, suggesting just how important that 173.00 level was to the trade. We may get another swipe at Long GLD, but the price pattern will have the last word, and so far that is "Out." The DJIA came close but did not close below 34,000 yesterday. It will and when it does, the Sell will be on. TSLA is still treading water around the $600 level. It is a coiled spring.
