GLD (NYSE:GLD) – on sell signal.
iShares Silver (NYSE:SLV) – on sell signal.
GDX (NYSE:GDX) – on sell signal.
iShares S&P/TSX Global Gold (TO:XGD) – on sell signal.
CEF – on sell signal.
ARCA Gold BUGS: A top has been confirmed, any rally/bounce is counter trend until resistance is broken.
US Dollar Index– as long as the dollar remains in a bull market from our major buy signal in 2011, precious metals will be under pressure overall.
Summary
Long term – on major buy signal.
Short term – on sell signals.
Gold sector cycle is down.
Trend is down.
Correction continues.
Disclosure: 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.
We also provide coverage to the major indexes and oil sector.
End of update