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Market Sentiment At Its Lowest In 10 Months

Market Sentiment At Its Lowest In 10 Months

Stocks sold off last week…

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This Past Week in Gold

SPDR Gold Trust Shares Daily Chart
GLD - on buy signal.


iShares Silver Trust Daily Chart
SLV - on buy signal.


Market Vectors Gold Miners Daily Chart
GDX - on sell signal.


XGD.TO Daily Chart
XGD.TO - on buy signal.


Central Fund of Canada Daily Chart
CEF - on buy signal.


Gold Bugs Index Daily Chart

Gold stocks remained locked in a major down trend and until this trend is reversed, buyers beware.

Silver Daily Chart

According to COT data, silver is making another top with much lower prices in coming weeks.

Summary
Long term - on major sell signal since Mar 2012 when $HUI was at 550.
Short term - on mixed signals.
Gold sector cycle - down as of 5/16.
Caution is advised.

 

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