Buy GLD at the market, current price $115.96. We would use a sell stop at $113.05

We know sentiment is very bearish the metals markets and lopsided.  We want to use this minor buy from our proprietary indicators to begin to establish a 1/3rd long position.
We possibly had a selling climax middle of July and trying to find some support at these levels.  We have a slight divergence from the OP and price a shown by the first two blue arrows.  We also have the Force Index in an uptrend off the lows.  Lastly, the Technometer just came off of extreme oversold as shown by the blue circle.

Good Trading,
Todd Butterfield