GLD losses massive 22.86 tonnes
Volume is bearish on a long-time perspective.
Danielle Park has posted an interesting article in her blog "Juggling Dynamite." According to Park, volume has been extremely bearish from a long time perspective. The post contains two sobering charts.
The SPY, Industrials and Transports closed down. The primary and secondary trend remains bullish.
Friday's volume was higher than Thursday's. Since stocks closed down, it has a bearish connotation.
Gold and silver
GLD lost a massive 22.86 tonnes. Is paper gold going towards its intrinsic value whereas the East hoards the physical?
GLD and SLV closed down and made lower lows thereby reconfirming the primary bear market.
GDX and SIL closed and made lower lows thereby reconfirming the primary bear market.
The Dow Theorist