4-Hour GLD Chart

GLD--  My near-term pattern work argues that GLD ended a correction from its 4/12 high at 225.09 to the 5/03 low at 210.71. All of the action since last Fri's low at 210.71 into the 216 level has the right look of the initiation of a new upleg or a rally that should revisit the 221-225 April high-zone... Last is 214.64...