GLD (NYSE:GLD) – on sell signal.
iShares Silver (NYSE:SLV) – on sell signal.
GDX (NYSE:GDX) – on buy signal.
XGD (TO:XGD) – on buy signal.
Central Fund of Canada Ltd (NYSE:CEF) – on sell signal.
GDXJ (NYSE:GDXJ) – on buy signal.
A correction has morphed into a consolidation, and the longer time it takes, the mightier the eventual breakout.
Both gold and stocks bounced firmly from the divergence this week, which is common at intermediate market bottoms.
Summary
Long term – on major buy signal.
Short term – on mixed signals.
Gold sector cycle is down.
A major consolidation is in progress.
Holding long for long term gains.
Disclosure
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