Oct 11 2018 - Gold Breaks Out But...
The major indexes were hit with another round of selling today. As a result, SPY and QQQ are now both below their respective 200-day SMAs and remain oversold on a daily basis.
Gold (GLD) popped solidly above its 50-day SMA for the first time since April. However, its major seasonal bias does not kick in until January (more details inside the video).
We also discuss DIA, IWM, MDY, XHB, XLF, IYT, SMH, DAL, SLV, SIL, GDX, GDXJ and more.
Have a great day!
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