This past week in gold

Jack Chan
Posted May 5, 2014

GLD – on sell signal.

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SLV – on sell signal.

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GDX – on buy signal.

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XGD.TO – on buy signal.

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CEF – new buy signal failed, which is not unusual during a down cycle.

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The big picture in gold has not changed as the multi month consolidation continues.

In 2012 when gold was consolidating, dollar was strong as expected.

But dollar has been weak during gold’s current consolidation, and that is a concern from the inter market relationship perspective.

Summary

Long term - on major sell signal since Mar 2012.
Short term - on mixed signals.
Gold sector cycle - down as of 3/21, ending the up cycle since 12/27.
COT data is not supportive for higher prices overall.

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May 3, 2014
Jack Chan
Archives
email: jack@simplyprofits.org
website: www.simplyprofits.org

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