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Today’s chart of the day focuses on the global stock market conditions…

There is some talk among traders about precious metals breaking out. Silver broke a trendline dating back to summer 2011 and will make its highest weekly close in more than three months. Gold will make its highest weekly close in three months and gold miners had a very strong week. However, do these moves really … Continue reading

Balmoral reports results of its winter program….

Forget the 200-day moving average. While it is important, clearly the 400-day moving average has been a much better indicator for the gold miners. GDX closed at $20.78. The 400-dma is at $22.43. If GDX can test it, it would mark the third test in the past 10 months. That tells me a transition from … Continue reading

Is this the final bottom or just another short squeeze before another leg down?…

A look at gold miners & Gold…

Today’s chart of the day focuses on sentiment in the basic materials sector. Regular readers of the blog already know that I have been closely following Merrill Lynch’s Fund Manager Survey for years now. This months survey was conducted in a period between 2nd to 9th April 2015 with a total of 177 panellists, with $494 billion of … Continue reading

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