Gold / GLD - 9/20/09

Gold could have made a top on Thursday one day before the 9/18 to 9/22 swing reversal zone but it has not yet given a technical sell signal. Also, it has not yet reached the target for the upmove out of the triangle which is 105.5 on GLD. Overall, the outlook is not nearly as clear for gold as it is for stocks. A correction from here should be fairly mild until the next upleg begins. Gold has also tended to trend in the same direction as stocks recently which could indicate it will move sideways or make a lower high next week as stocks are moving up.