SPDR Gold Shares (ARCA:GLD)– on sell signal.
iShares Silver (ARCA:SLV) – on sell signal.
Market Vectors Gold Miners (ARCA:GDX)– on sell signal.
iShares S&P/TSX Global Gold (TO:XGD) – on sell signal.
Central Fund of Canada Ltd (ARCA:CEF) – on sell signal.
Gold stocks broke the multi month consolidation last week, suggesting lower prices ahead.
Summary
Long term – on major sell signal since March 2012 when HUII was at 550.
Short term – on sell signals.
Gold sector cycle – down as of 5/16.
Caution is advised.
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.