This Past Week in Gold
GLD - on sell signal.
SLV - on sell signal.
GDX - on sell signal.
XGD.TO - on sell signal.
CEF - on sell signal.
As noted in previous analysis, gold continues to make lower highs and this time is no different. Until this trend is reversed, gold is in a bear market and rallies to the 200ema should be sold.
Long term - on major sell signal since Mar 2012 when $HUI was at 550.
Short term - on new sell signals.
Gold sector cycle - down as of 2/07, ending the up cycle since November.
A bear market rally has completed, short sellers should sell into any bounces.