Gold Sector Cycle Is Down
Jack Chan | Apr 30, 2017 04:12AM ET
GLD (NYSE:GLD) – on sell signal.
SLV (NYSE:SLV) – on sell signal.
GDX (NYSE:GDX) – on sell signal.
XGD.TO (TO:XGD) – on sell signal.
CEF (NYSE:CEF) – on sell signal.
GDXJ (NYSE:GDXJ) – on sell signal.
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A correction has morphed into a consolidation, and the longer time it takes, the mightier the eventual breakout.
Summary
Long term – on major buy signal.
Short term – on sell signals.
Gold sector cycle is down.
A major consolidation is in progress.
Holding long for long term gains.
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