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Wednesday, January 5, 2011
GLD Head & Shoulders Top Maybe
Watch the GLD, was close to breaking the neck line (Red line) on a Head and Shoulders top pattern but they saved it at the close of the markets closing right on the neck line. Tomorrow will be interesting day to see if we can close below the neck line. If we get a break then we could go to the 127.50 mark to complete the pattern. The other part of this puzzle I like is the vol is dropping to the right shoulder which is a good indicator of a head and shoulders top.