Gold
Investment Thesis
GLD printed a high-volume selling climax on June 10, crashing through its 200-day SMA before staging a sharp intraday reversal on June 11. RSI sits at 31.3 (near oversold), and the GLD/SPY ratio RSI hit an extreme 23.8 — together pointing to a tactical mean-reversion bounce toward the 200-day SMA at $406.
Catalysts to Watch
A high-volume flush on June 10 (13.9M shares — the largest single-day volume in the 20-day sample, nearly 3× average) drove GLD from $411 to a close of $374.58, piercing the 200-day SMA ($406). The following session (June 11) opened at $373.96, tagged a low of $371.88, and closed strongly at $386.32 — a $14.44 intraday recovery off the lows on continued heavy volume (12.6M), forming a bullish engulfing/hammer pattern that signals potential selling exhaustion.
Why It May Work
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Timeline
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