This Past Week in Gold

By: Jack Chan | Sat, Dec 21, 2013
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SPDR Gold Trust Shares Daily Chart
GLD - on sell signal.


iShares Silver Trust Daily Chart
SLV - on sell signal.


Market Vectors Gold Miners Daily Chart
GDX - on sell signal.


XGD.TO Daily Chart
XGD.TO - on sell signal.


Central Fund of Canada Daily Chart
CEF - back on sell signal.


HUI Gold Bugs Index Weekly Chart

Gold stocks as represented by $HUI have reached our downside target of 200, what we need now is a major trend reversal.

Summary
Long term - on major sell signal since Mar 2012.
Short term - on sell signals.
Gold sector cycle - down as of 11/08.
COT data is now favorable for a bear market rally.

 


 

Jack Chan

Author: Jack Chan

Jack Chan
www.simplyprofits.org

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.

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Source: The Contrarian Take http://blogs.forbes.com/michaelpollaro/
austrian-money-supply/