Gold ETF as at 20/9/2010

I like the Gold ETF as a counter trend play against the All Ordinaries Index. Above is the Gold/XAO ratio chart.

At the moment it is looking positive for the Gold ETF - but a move above the 13-Day Moving Average would be an initial signal.

A cross by the 13DSMA above the 55DSMA would be a strong bullish signal.

I'm still waiting patiently for a decisive move upwards by the Gold ETF.

That stock - and the general market - are currently finely balanced - one to the upside, the other to the downside.

We'll know which way things will move in the very near future.