My market indicators are weakening, with the GMI back to 5 (of 6) and the GMI-2 at 4 (of 8). I am much more defensive in my trading accounts. My longer term university pension remains 100% invested in mutual funds.
I wanted to show you why I have been bearish on gold for a long time. This weekly chart of GLD shows that it has been in a Stage 4 down-trend since early 2013. I would not own GLD (or any stock) until it comes back above its 30 week average (red line).
With that in mind, take a look at the weekly chart of TSLA. TSLA is now below its 30 week average. It is too early to know if it will enter a Stage 4 decline, but I would not own TSLA until it comes back above its 30 week average (red line). I alerted readers several weeks ago when TSLA was at 173 and broke below its 10 week average (blue dotted line), a critical sign of weakening in a growth stock.