SPDR Gold Trust (ARCA:GLD)– on buy signal.
iShares Silver Trust (ARCA:SLV)– on buy signal.
Market Vectors Gold Miners (ARCA:GDX)– on sell signal.
iShares TSX Global Gold (TO:XGD) – on sell signal.
Central Fund of Canada Ltd (AMEX:CEF) – on buy signal.
Some analysts have declared the bear market over in gold stocks. That is premature according to simple trend analysis. Currently ARCA Gold BUGS 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.
Disclaimer: We do not offer predictions or forecasts for the markets. What you see here is our simple trading model which provides us the signals and set ups to be either long, short, or in cash at any given time. Entry points and stops are provided in real time to subscribers, therefore, this update may not reflect our current positions in the markets. Trade at your own discretion.