Gold — get ready to rumble (oh, I meant tumble)
The market is experiencing a MAJOR chart breakdown.
I try to pay little attention to what markets do intraday. The closing price each day is really all that matters. The most important price of the week is the Friday close. Why? All the HFT systems are flat — all the day traders have gone home. The Friday close is the price determined by traders willing to hold a position over a weekend.
Should Gold close at or near current levels ($1532), it will be the lowest Friday close in 21 months. A massive top may be completed today. Gold bulls, take this seriously … very seriously.
$GC_F, $GLD
