Remember the "Possible GLD Targets to the Downside" post from 11/24/2020 (https://jmstweets.blogspot.com/2020/11/possible-gld-targets-to-downside.html)? The last target on the list was 158.46. Yesterday's low in GLD was 158.43 and today's low was 158.55.
I think this is where we make a low and bounce higher. I think so because we're at a significant Fib level that coincides with a previous congestion area back in May of 2020, we're exactly at the recent Head & Shoulders projection, and Stochastics are very low. But if we continue lower, here are a couple additional targets.
147.33 (green 50%)
136.21 (green 61.8%)
120.39 (green 78.6%)
Since I think its likely we bounce from here, I got some options:
GLD Apr 160 Call's for $3.44 (x100 shares = $344).
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