For GLD, after breaking down below the orange uptrendline line today, a test of 162 now appears to be in the cards. 162 is the level at which the market launched a clear breakout from in late August, and now also coincides with the 200day ema. If that support line fails to hold, then there is an even stronger level of support in the 158 area where a significant gap remains unfilled. That would be a great point to establish long positions, if the opportunity presents itself: