Will This Breakout Be Different?

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Considering the spectacular rise of precious metals today, one big question in my mind is this – – is the breakout in GLD s a real breakout, or a fakeout?

In the past (see leftmost green circles), GLD has done a technically beautiful breakout, only to immediately roll over (red arrows). This latest breakout seems to be a carbon copy of prior instances, although I am long GLD and certainly hope this is the real deal. We'll probably know within hours of Wednesday's opening bell.