Gold Miners Index vs. S&P 500 Index

Gold Miners outperform

The Gold Miners Index (GDM), ETF (GDX), which bottomed in March, has begun to outperform the S&P 500 Index (SPX). The S&P has been rallying along in excess of a 30% annualized rate of growth over a 200 day average.

In this post we’re using a real simple signal line – a 50 day relative strength moving average crossover. The gold miners index crossed above on the day of May 3rd. See stock chart below:

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Gold Miners Index vs. S&P 500 Index

Gold Miners Index | Trendanomics

Gold Miners Index | Trendanomics The Gold Miners Index (GDM), after rallying 18%, March bottom to April top, has been selling down to approximately $960. There are many price reversals in this area. Further selling from here, breaking this support area, will indicate more selling.

Gold Miners Index (GDM)
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