From a trend following perspective, I could not go long or short this fund as the trend is technically sideways. But it will interesting to see how this potential island top plays out.The next ETF that looks interesting is GLD, which tracks the price of gold bullion:
Gold is neither in an uptrend or a downtrend, but if the yellow support zone does not hold, this could change. For me to short GDX or GLD, the following criteria must be met:1) The price must below the 50dma
2) The price must be below the 200dma
3) The 50dma must be below the 200dma
Besides that, an island top or a break of support is just a bonus.
