Gold proxy GLD - 60 min. chart

The Diamond pattern has manifested in a breakdown.  Surprised?  The breakdown targets 164.  Will it get there?  I think it stands a good chance, but then I am just a chart twittler and the chart says yes.

I was reading some analysis somewhere talking about something called a "gold punisher", whatever that is.  The analysis also had a theme stating 'don't listen the MACD wiseguys' or something like that.  As if people looking at the way over extended MACD on a daily gold chart were leading readers astray by stating that gold needed to correct from over bought levels.

Guilty, NFTRH has been managing that condition for weeks now.  And gold is coming along, though still not yet there.  Besides, nominal gold is not about price, now is it?  The value proposition remains good and it's getting better as we bleed the momentum freaks out of the investor base.

http://www.biiwii.blogspot.com
http://www.biiwii.com