The weakness in gold ($GLD) — from $385 to $381 — is surprising considering the weak jobs data and the softness of the U.S. dollar. ( A similar reversal just occurred with $TLT from $78.32 to $77.75).
My reaction is to sell more $SPY $771.93 and QQQ $753.76 …
For now it is unclear what the message of the reversal in precious metals and bonds mean – but I am probing and thinking.
Note that we sold out our $GLD long (for the fourth time and for a profit) on Wednesday:
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