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I was on a coaching call last night with another student and we were looking at Gold (GLD). I had noticed that it’s flashing a pretty large bearish divergence signal on the daily chart using a MACD Histogram.

Now, I’ll be the first to tell you that Gold is all over the media right now and has been in a parabolic state for the past year. But that doesn’t mean we won’t see a little correct here to keep this rally going.

As always, I’m a fan of sustainable trends. This gold “bubble” as some people are calling it still has legs, but not a the rate it was going in July. Corrections are healthy and needed for Gold right now.

What Are Your Thoughts On Gold?

I know a lot of you have traded gold and continue to make trades on Gold. What do you think the charts are saying and how are you positioned?