This Past Week In Gold: Another Divergence Could Be In Play
Jack Chan | Jun 21, 2015 03:57AM ET
ARCA:GLD – on buy signal.
ARCA:SLV – on sell signal.
ARCA:GDX – on sell signal.
TO:XGD – on sell signal.
AMEX:CEF – on sell signal.
Gold bounced sharply from the divergence, but stocks are lagging. Unless this is negated soon, another divergence could be in play, which is bearish.
Summary
Long term – on major sell signal since Mar 2012 when HUI was at 550.
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Short term – on mixed signals.
Gold sector cycle – down as of 5/16.
Caution is advised.
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