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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 Trsut 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 sell signal.


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


Gold Bugs Index Daily Chart

Some analysts have declared the bear market over in gold stocks. That is premature according to simple trend analysis. Currently $HUI is bouncing from support but until resistance is broken on the upside, the trend remains down and the bear market continues.

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 2/07, ending the up cycle since November.

 

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