This past week in gold
GLD – on sell signal.
SLV – on sell signal.
GDX – on sell signal.
XGD.TO – on sell signal.
CEF – on sell signal.
This chart clearly shows how speculators are positioned in both a bull and bear market. Currently net long at 28k, should see a tradable bottom soon.
Long-term holders of gold and gold stocks may have capitulated this week with a huge gap down on heavy volume.
Long term – on major sell signal since Mar 2012 when $HUI was at 550.
We also provide coverage to the major indexes and oil sector.