SPX and Gold: Gold Worth Watching

I'm suffering through another birthday today, so this update isn't going to be ultra-detailed, but I do have some noteworthy info about gold.

After capturing its first downside target and a good-sized bounce, gold retreated down below the black trendline.  Gold bulls probably want to be cautious if it sustains trade down here because, as noted previously, that would put a test of blue on the table as a live option.

Of note, I realized today that Stockcharts had shifted the red trendline (something it sometimes does on its own on old charts with long time frames) -- I have corrected its location from the prior chart.  Red technically becomes the first zone on sustained trade below black, THEN blue.  The annotation has been updated to reflect this.

SPX is still in its uptrend, so nothing to add here for now:

That's about all the news that's fit to print at the moment.  Trade safe.