Market Timing Brief for the Gold ETF (GLD) Close on 11-22-2013: Gold Support Broken

A Market Timing Report based on the 11-22-2013 Close published Sunday November 24th, 2013

Under the pressure of rising interest rates, gold is breaking down again as the chart shows below.  It is a Bear market.  No buy there.  Wait until support forms.

Here’s the chart:

gld-gold-etf-market-timing-chart-2013-11-22-close

Gold broke support and is falling again.

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I thank Worden Brothers for the chart system I use to post these charts.  If you want to know more about the charting system I use every day, go to my “Other Resources” page here:  Other Resources   It makes it much easier to follow along with me if you can see the charts and manipulate them on your own computer, so it’s a great investment to have an excellent charting system.

Look for updates on the main chart tracking pages this week as I feel they are needed and comments via Twitter.

Copyright © 2013 By Wall Street Sun and Storm Report, LLC All rights reserved.

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