This Past Week In Gold
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GLD – on sell signal.
SLV – on sell signal.
GDX – on sell signal.
XGD.TO – on sell signal.
USD – on major buy signal since Nov 2011, and until that changes, the mighty dollar is the preferred currency over gold.
Summary
Long term – on major sell signal since Mar 2012.
Short term – on sell signals.
Gold sector cycle – continues to whipsaw.
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Jack Chan is the editor of simply profits at www.simplyprofits.org, established in 2006. Chan bought his first mining stock, Hoko Exploration, in 1979, and has been active in the markets for the past 37 years. Technical analysis has helped him filter out the noise and focus 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.
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