GLD Defying SPY for Bullish BreakThru Run
As we all know the SPY and GLD have an inverse relationships. When the SPY goes up, GLD goes Down. However Gold has been going up and so has the SPY. More so, as the SPY comes into its all-time highs, GLD appears to be consolidating at its 2016 all-time highs.
Both are at their all-time highs for the year but gold has been consolidating (resting) at these highs for the past 2 months rebuilding energy to break thru future resistance, while the SPY may be out of breath from the sprint it has made to the all-time highs in the past 2 months.
With that being said, I plan to take my profits from the SPY as we hit these highs, and put them into gold.
Both are at their all-time highs for the year but gold has been consolidating (resting) at these highs for the past 2 months rebuilding energy to break thru future resistance, while the SPY may be out of breath from the sprint it has made to the all-time highs in the past 2 months.
With that being said, I plan to take my profits from the SPY as we hit these highs, and put them into gold.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.