The streetTRACKS Gold Shares (GLD) pressed beneath its 8-month trendline.

The UltraShort QQQ ProShares (QID) ETF still cannot hurdle key resistance.

Although Advanced Micro Devices (AMD) represents less than 1-1/2% of the SMH Semiconductor ETF, it is nonetheless encouraging to see such a maligned name finally begin to participate in the upmove in the Semiconductor Sector.

Today's decline in the QQQQ has sliced through near-term trendline support.

The fact that the QQQQ pressed exactly to the April-May support line, held, and then reversed strongly is an indication that perhaps a minor correction already had run its course since last Friday's high.

Mike Paulenoff's hourly work on the U.S. Oil Trust (USO) indicates that in the 47.50 area the USO hit a swing target, corrective low, and since has started the process of establishing a near-term pivot bottom.

So far the bulls have not run the Q's (QQQQ) back to the highs.

The Gold ETF (GLD) needs to hurdle and sustain above 67 to trigger initial confirmation that an important pullback pivot low has been established.

The streetTRACKS Gold Shares (GLD) has made a round-trip off of last Thursday’s pivot low at 66.50, which now represents key near-term support.

The PowerShares Deutsche Bank Commodity ETF (DBC) continues to consolidate while preparing for an upside breakout.