Home   Links   Editorials

This past week in gold

Jack Chan
Posted Sep 26, 2022

Gold sector as represented by $HUI is on a long-term SELL signal.
Long-term signals can last for months and are more suitable for investors.

Short-term is on SELL signal.
Short-term signals can last for days and weeks and are more suitable for traders.

Speculation at a new bull market and multi year low.

Speculation at a new bull market and multi year low.

Our ratio is on BUY signal.

With our $BPGOLD falling below 10% this week, there are two charts which we want to share with you:

Chart #1 GDX – since the gold bear market ended in Dec 2015, there has only been four times which our BPGOLD dropping below 10%.

#1 – Jan 2016, rallied 150%.
#2 – Dec 2016, rallied 40% (during a two year correction)
#3 – Mar 2020, rallied 130% from the pandemic panic low.
#4 – now, after a two year correction.

How about gold prices?
Dec 2015, gold at $1050.
Dec 2016, gold at $1150.
Mar 2020, gold at $1500.
Now, gold at $1650.

Summary

Long-term – on SELL signal.
Short-term – on mixed signals.
Gold sector cycle is down.
$$$ we are holding trading positions.

###

Sep 24, 2022
Jack Chan
Archives
email: jack@simplyprofits.org
website: 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.

We also provide coverage to the major indexes and oil sector.

Jack Chan: Is the editor of simply profits at www.simplyprofits.org, established in 2006. Jack bought his first mining stock, Hoko exploration in 1979, and has been active in the markets for the past 40 years. Technical analysis has helped him filtering out the noise and focusing on the when, and leave the why to the fundamental analysts. His proprietary trading models have enabled him to identify the Nasdaq top in 2000, the new gold bull market in 2001, the stock market top in 2007, and the US dollar bottom in 2011, and most recently, overweighing in bonds over stocks in 2019 before COVID19 became a household name.

In his spare time, Jack is an avid golfer and tennis player, and volunteers his time coaching and lecturing at local clubs and universities.

321gold Ltd