In the most treacherous markets of our lifetime many faces are shown. Now the market is inviting us to buy again. The pattern is that most enticing of Japanese candlesticks, the three gazelles leaping. Theoretically these power bars should mark the start of a z wave. Certainly the moderately bold could buy here, looking for a trade that might turn into a trend. You would want to stop it 1% below Monday’s low. We would be surprised if the market’s trickeries were over but like Charlie Brown you have to kick the football http://stockcharts.com/h-sc/ui?s=GLD&p=D&yr=0&mn=6&dy=0&id=p24377361185&a=399982138
Gold went parabolic and it’s run is probably finished. The last g marks an exhaustion gap. The filling of that gap probably marks the end of this play.