|GLD SPDR Gold Trust on Oct, 5th, 2010 @ 8:40am PST|
Stochastics are embedded and upside strength going forward is still intact. All of the moving averages are in line with a typical bull run. There was a break in the stochastics on Sept 9th where the K line dipped below the 80 level and the D line followed. Since then, they have both recovered back over 80 on Sept 21st and have been embedded.
Most traders know that every bull runs come to an end at sometime and need to get out. A pullback sometime in October is a possibility and consolidation before another bull run in November. Long term Gold investors can sit back and enjoy the current run.