Our proprietary cycle indicator is down.
The gold sector is on a long-term buy signal. Long-term signals can last for months and years and are more suitable for investors holding for long term.
The gold sector is on a short-term sell signal. Short-term signals can last for days and weeks, and are more suitable for traders.
Our ratio between gold and gold stocks is on short-term sell signal.
Speculation on gold is at a multiyear low.
Silver is on a long-term buy signal.
SLV is on a short-term buy signal, and short-term signals can last for days to weeks, more suitable for traders.
COT data is at levels of previous bottoms.
UUP, ETF for USD, gapped up on Friday. The question is, is this an exhaustion gap or breakaway gap? Over the years, my observation on such a gap after an extended rally is often an exhaustion gap.
FXE, ETF for the Euro, may help shed some light. Friday’s gap had the lightest volume relative to the two previous gaps, a sign of selling exhaustion.
The precious metals sector is on a long-term buy signal. Short-term is on mixed signals. The cycle is down. From a contrarian point of view, the current extreme bearish sentiment is an excellent buying opportunity for long-term investors. We are holding gold-related ETFs for long-term gain.
The SPDR Gold Trust ETF (GLD) rose $0.46 (+0.41%) in premarket trading Thursday. Year-to-date, GLD has declined -10.08%, versus a 6.01% rise in the benchmark S&P 500 index during the same period.
This article is brought to you courtesy of Streetwise Reports.