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Gold Bugs, S&P 500 Break 5-Year Channels At Same Time

Published 02/08/2016, 03:20 PM
Updated 07/09/2023, 06:31 AM

Mining Stocks Vs. Broader Market

S&P 500 has created a series of higher lows and higher highs for the past 5 years. Some would define this as a bull market.

Gold Bugs Index has created a series of lower highs and lower lows during the past 5 years. Some would define that as a bear market.

It appears the S&P is breaking 5-year support and the Gold Bugs index is breaking resistance -- at the SAME TIME.

“Super Trends” coming to an end? The Power of the Patterns suggests that if these support/resistance lines get taken out, this could be a pretty big deal friends!

Full Disclosure…Premium Members are long Silver.

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