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GLD's 200-day line and 50-week moving average and GLD's 61.8% decline this year are all perfectly coincident around 168, which is a perfect pressure level. From a structural point of view, there is no doubt that GLD has not finished its upward trend in the weekly chart, and there is further upward momentum in both time and space, but in the short term, it will first adjust at important pressure levels and then go upward.

Stocks were mixed on Wall Street, with the Dow retreating from a seven-month high.

The Dow closed down 194 points at 34,395; the S&P 500 closed down 3 points at 4,076.

Some U.S. economic data were worse than expected. The market waited for the employment data to be released on Friday. The Dow fell repeatedly.

The Dow opened 56 points lower, falling as much as 460 points at most, and then narrowed the decline, and finally fell 194 points to 34,395 points.