Regaining Confidence in GLD's Next Bull Move

After dropping into the +85 range of our trend analysis GLD had traders thinking "is it time to take profits in GLD". But this mornings Smart Scan Chart Analysis confirms that a strong uptrend is in place and that the market remains positive longer term. A triangle indicates the presence of a very strong trend that is being driven by strong forces and insiders.Based on a pre-defined weighted trend formula for chart analysis, GLD scored +100 on a scale from -100 (strong downtrend) to +100 (strong uptrend):                                      +10    Last Hour Close Above 5 Hour Moving Average                                      +15    New 3 Day High on Friday                                      +20    Last Price Above 20 Day Moving Average                                      +25    New 3 Week High, Week Ending August 27th                                      +30    New 3 Month High in August                                      +100       Total Score

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