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Thoughts on $GLD and that 382 level
Been watching $GLD closely today, particularly that move up to 382.22. It felt like a significant retest of an area that's held firm as resistance for a while now. The inability to push much beyond that earlier high of 382.22 after the initial pop gives me pause. If we see a solid close above, say, 382.50 in the next session, I'd have to reconsider, but for now, it looks like that level is still very much in play as a cap. The risk to this perspective, obviously, is a strong candle breaking through 383, which would suggest a new leg up.
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