A quiz was posted on 5/2, suggesting to “HARVEST Gold/GLD” at the top of its trend channel. (see INVERTED/UPSIDE DOWN GLD Quiz chart here).  The suggestion to harvest happened to be at the highs, due to channel resistance. 

GLD has been a pretty good “Trade the Range” ETF for the past few years, inside a large rising channel.  GLD has been confined inside of a channel with a 5% spread from high to low, since the suggestion to harvest.  This narrow of a channel has had little interest to me, ever since suggesting to “harvest Gold” at the top of the channel.

Now a breakout of this narrow range is taking place and GLD has some overhead room to move higher before hitting channel resistance.

Game Plan…Would be an owner of GLD with a stop should just below channel support around $150.

How The Recent Decline In Stocks Looks "Eerily" Like Major Bear Markets Of The Past