This weekly chart shows how rarely T2108 is below 10%. It represents a very oversold condition.
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$KL looks golden
KL hit an all-time high on Tuesday and has a terrific weekly RWB pattern. KL has tripled since having a green line break-out (GLB) in June 2017. This chart shows a recent break-out from a 3 month base.
GLD now in daily RWB up-trend
Of 38 world ETFs in my watchlist, none have RWB daily and weekly patterns (see blog glossary). Only 7 of the Nasdaq 100 stocks and 19 of the S&P500 stocks and 1 of the Dow 30 (PG) do so. There were 1004 new lows and 10 new highs on Monday out of 4900+ U.S. stocks. Best to be short or in cash now. As is often the case, in tough times people turn to gold. GLD is now in a daily RWB up-trend.
