The gold cheer leaders are behind a new bullish move for gold back to $1900 USD. Let's review the GLD chart with our very own RTTTrendPowerOBV.

With good trends volume confirms the trend, many folks have relied on the standard OBV to confirm the health of the trend. RTT members can add to this RTTTrendPower and RTTTrendPowerOBV.

Excellent chart eye candy follows after the jump...

It’s that time of year again and I’m not talking about the holiday season...... What I am talking about is another major market correction which has been starting to unfold over the past couple weeks.

You may have seen a TV ad where "traders" describe their strategies, and one says, "I trade on fundamentals." That sounds very reassuring -- except that, on any given day, "fundamentals" are a mixed bag:

You might have a good U.S. employment report...but bad news from Europe
A positive Fed statement...but a negative housing number
Strong earnings...but slowing consumer spending

The markets have slowly faded off the opening highs as fears about the global economy continue. This market is not just worried about the European debt crisis which has bubbled up again, but also the debt ceiling issue in the U.S., inflation, jobs and the end of QE2. There is a ton of gray in the short term future of the economy and big money seems hesitant to commit.