Very strong move today in equities but very overbought on short term frame. Sold GDX quickly after open after GLD started dipping for a minimal gain and also SPY longs picked up at close yesterday around midday (a bit too early..). At close picked up ERY for a short term trade, probably only a day or two based on XLE's relative weakness despite the strong day in equities and oil. I am slightly bearish (not expecting a big move though) going into the year end and only have a small batch of GDX spreads for next Jan/ Mar.
Still consolidating for a move up but also as it has been so long there is possibility of a spike to downside.
Will GLD get moving?