Our Smart Scan Chart Analysis of GLD indicates a counter trend rally is underway with a sidelines, mode up signal It also indicates that the current down trend could be changing and moving into a trading range Sidelines Mode.
Based on a pre-defined weighted trend formula for chart analysis, GLD scored -55 on a scale from -100 (strong downtrend) to +100 (strong uptrend):
-10....Last Hour Close Below 5 hour Moving Average
+15....New 3 Day High on Tuesday
-20....Last Price Below 20 Day Moving Average
-25....New 3 Week Low, Week Ending January 30th
+30....New 3 Month High in December
-55....Total Score
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