Given the ridiculous push higher the stock market has seen over the last six weeks, it is time for equities to take a breather and for funds to possibly flow into gold once again.  Recent chart patterns on gold have given gold bugs hope that higher prices are just around the corner.  Below is a daily chart of GLD which provides a rather simple technical snapshot of where things stand right now. 

First, notice the cluster of timecycles in GLD that come together in the April 15 - 21 timeframe.  Combine that with the falling wedge price pattern, which is the exact opposite of the rising wedge I write about in equities over a week ago,  and the time appears ripe for a reversal higher.  Also note that as price has touched its prior low at 85, the RSI has made a higher low, and the Stoch/RSI indicator has crossed higher from an oversold condition.   The final piece of the puzzle is the support zone that has formed in the 83.90 - 84.67 area which is formed by the horizontal green and red lines.  We will see what this week brings.