Gold bottomed on the week of Dec 18th, 2015. Here’s a post I made on Dec 18, 2015 making case for a potential bottom/end to the bear market & at least a tradable rally GLD at that time: https://rightsideofthechart.com/gld-gdx-appear-poised-to-rally/

LOL.. this guy might be a tad late. The bull market in gold started in Dec 2015, nearly 4 years & 50% ago.

I think that shorting QQQ or SPY on the breakout today with stops anywhere from 1-5% above offers an extremely attractive R/R should the breakout end up failing. Shorting the breakout is certainly an aggressive strategy that goes against basic TA/trading rules, which say to go long on a breakout. However, the above-average gain potential, should the breakout fail, plus my read on the charts (right or wrong) which says the chance that this breakout will likely fail within a week or less, makes it compelling IMO.

Of course, the less-aggressive & higher-probability entry would simply be to wait & see if the breakout does fail with conviction before shorting. That would provide a less-favorable entry price but a higher chance of success & still plenty of downside (profit) potential so not a bad way to go (or split the difference & do both with a 1/2 short position on the breakout today, adding the other 1/2 if & when it becomes clear that the breakout has failed).

No, different indexes. Google the components of each for the details.

On my AH chart of SPY, I don’t see a high of 295 last night, more so around 293.74 but 1 more point on a 300 point index-tracking ETF is insignificant (1/3rd of 1%), especially in the whippy after-hours & pre-market sessions so it wouldn’t mean much to me if SPY did pop to 295.

I have 294 as the top of the Aug-Sept range on SPY with the comparable level on $DJIA around 26,400 or so. SPY made a high of 294.24 on Aug 30th with DJIA topping out at 26,476 that day.

I’d say the odds are pretty good that they’ll pop those highs soon but very unusual to see such a relentless flow of money into the risk-off assets (PM’s & Treasuries) at the same time the stock market is threatening a breakout of a super-well watched resistance level that has the potential to take the stock market to new highs. One or the other is likely to give sooner than later (stocks down or PM’s/Treasuries down).