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Pocket Pivot Review - GLD 7-14-19

Gold ETF GLD had a pocket pivot on Wednesday. It has since backed and filled nicely and remains buyable. We have mentioned GLD in prior reports as it is the first time since 2011 that GLD has acted constructively such that the start of a longer term, sustainable uptrend seems in the offing.

Bitcoin (BTC) is considered digital gold and Fed Chair Powell mentioned last week in his testimony to Congress that BTC is a speculative store of value like gold. Both can be considered assets that will rise in price as QEInfinity rages on. Indeed, BTC has had a high level of correlation with not just currency devaluations but with world crises as I wrote about HERE
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