Market / Gold Analysis July 24, 2014

With everyone seemingly getting out of the 'Gold' [$1,291] trade I would use this opportunity (based on the technical reasons discussed in the video) to consider GLD [$124.18] (and by extension the other 'Metal's related instruments) a buy as long as it (GLD) does not violate the lows for the day at $123.90.

On the other hand the general market (for example with the Dow Jones @ ~17,090) in my opinion is prepaying to pullback short-term and as such there is no need to rush to buy long side stocks or ETFs.

That is not to say the market is broken since we have yet to see any major broad market sell signals. The time to short the general market will come but not before the sell signs are witnessed all over the place.