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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…

Strong U.S. Dollar Weighs On Blue Chip Earnings

Strong U.S. Dollar Weighs On Blue Chip Earnings

Earnings season is well underway,…

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This Past Week in Gold

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


iShares Silver Trust Daily Chart
SLV - on sell 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 sell signal.


Spot Gold Daily Chart

This chart clearly shows how speculators are positioned in both a bull and bear market.

Currently net long at 28k, should see a tradable bottom soon.

Market Vectors Gold Miners Daily Chart 2

Long term holders of gold and gold stocks may have capitulated this week with a huge gap down on heavy volume.

Summary
Long term - on major sell signal since Mar 2012 when $HUI was at 550.
Short term - on sell signals.
Gold sector cycle - down as of 5/16.
A tradable bottom should be in progress soon.

 

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