Yellow Flag of Caution

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This will not be my funnest post because I dislike the idea of possibly upsetting people.  But here goes.....
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On reflection, I am not impressed, particularly with the dollar dropping and the stock market rallying (both should have helped GOLD), to see it unable to reclaim the 50 dma these past 4 days.  
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So, I am obliged to consider what I hope will not happen.  And that thought is that GOLD is only half way to its final destination on the pavement of the 200 dma.
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It is possible that we are now at a midpoint consolidation of a correction that is not yet finished.  If this happens, GOLD could end up at $1140, the 200 dma pretty quick.
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Click on the chart to ENLARGE

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It turns out that the uptrend line of the the entire 12+ month C wave is now almost exactly where the 200 dma is as well.  About $1,140.  This C wave has, once before, touched down briefly on the 200 dma and there is no reason why it could not do it again and soon.
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I have been doing these day trades using the 60 minute chart because minute charts are more accurate for short term timing.  What I have NOT payed much attention to is the daily chart of GLD, which is shown here, until this evening.
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Another disturbing thing is the daily chart TSI is below ZERO and falling.  That means only one thing:  price is falling.  And indeed, price is falling.  And until the daily TSI stops falling, price will not stop falling.  It is that simple.
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If the 200 dma is reached ($1,140) that should be the end of the correction and then a powerful advance will occur.  The thing I think each person that owns miners should ask themselves is how will they react if gold breaks down from the current consolidation level and begins to plummet.  If you have a plan, you will get through it just fine.  If you do not have a plan you could very well sell at the bottom - and that would be a gigantic mistake!
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Click on the chart to ENLARGE