SPDR® Gold Shares (NYSE ARCA: GLD) for Monday 6/6/2016

 SPDR® Gold Shares  (NYSE ARCA: GLD) Exchange Traded Fund (ETF) 

The investment seeks to replicate, the spot price of gold. It will invest in physical gold bullion where each share represents 1/10th of one fine troy ounce of gold.

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Based on everything going on this month … the sell in may and go away mantra really doesn’t apply.  We had the OPEC meeting.  We had the really poor Jobs Report,  We have the Russell Reconstitution candidates to be announced on Friday , after the markets close, 6/10/2016.  Additional Russell Reconstitution announcements will be coming out on Friday 6/17/2016 … and Friday 6/24/2016.   Friday 6/17/2016 is 3rd Friday of the month Quadruple Witching with stock options/futures, and Index options/futures, expiring.   … AND despite the poor JOBS Report, we still have a FOMC meeting … with no guarantee the FED still won’t raise rates … ( IMHO … July is now the FED flip a coin month )

For Monday see:  Index Support and Resistance for Monday, 6/6/2016

This is way better than any daytime soap opera … why would anyone want to go away and miss the cliff hangers?   Especially, with gold .. and the GLD ETF?   

 

gld 20160602d

Chart #1 (above, daily, Pivot Points (PP)-Supports-Resistances) 6/2/16

The above SPDR® Gold Shares  (NYSE ARCA: GLD)  $118.88  ▲  +3.21  +2.78%  daily chart from Thursday 6/2/2016 peaked my interest in precious metals and other commodities.  When I observe the Resistances (r2,r1; green ) and the Supports (s1,s2; red)  pinching in to the Pivot Point (PP, center, red) line, … I can be certain a move, a big move, up or down is coming.

gld 20160602w

Chart #2 (above, weekly, Pivot Points (PP)-Supports-Resistances) 6/2/16

Again,  I observe the Resistances (r2,r1; green ) and the Supports (s1,s2; red)  pinching in to the Pivot Point (PP, red) line, … I can be certain a move, a big move, up or down, is coming.

gld 20160602m

Chart #3 (above, monthly, Pivot Points (PP)-Supports-Resistances) 6/2/16

  What a difference a day makes …

gld 20160603d

Chart #4 (above, daily, Pivot Points (PP)-Supports-Resistances) 6/3/16

As you can compare the above chart #4 from Friday 6/3/2016 with the Thursday, 6/2/2016 Daily chart #1, we can see the big move was up thanks to the really poor Jobs report.

gld 20160603w

Chart #5 (above, weekly, Pivot Points (PP)-Supports-Resistances) 6/3/16

The above weekly chart #5 from Friday is still pointing up.

 

gld 20160603m

Chart #6 (above, monthly, Pivot Points (PP)-Supports-Resistances) 6/3/16

A day later,  the above monthly chart #6 from Friday, compared to the monthly chart #3 generated Thursday,  is still pointing up.

 

—–  Monday, 6/6/2016   thru Friday 6/10/2016  ——-

 

( x)   All Links can be opened in a new tab or new window …

  •  ( xi )  I will be returning and adding more related chart info including links to charts with  daily, weekly, and monthly chart analysis

 

Please read:

 (1)  Research and Investing Disclaimer

 (2)  Investing and Trading

    It’s Black Friday for OPEC

 

[ More  Blogs ]

 

Hope the above GLD ETF Pivot Point, Support, and Resistance calculations and charts for  Monday, 6/6/2016 help your investing and trading planning today …

 

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