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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

Just three weeks ago, some folks criticized me for being too bearish, as a few noted gold analysts have suggested that gold has broken out and a new bull market is on its way. I showed this chart with the patterns of lower highs and lower lows, combined with COT data to warn against another top and a drop to new lows. Hope it helped to keep some of you out of harm's way.

Spot Gold Daily Chart 2

COT data has helped us to identify the near term tops and bottoms effectively. Currently we are no where near a tradable bottom, let alone a new bull market.

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 10/30.
Traders can sell short the bounces during the current down cycle.

 

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