Gold Miners Index ..losing momentum

way outperforming the S&P long term, this ride may be “on hold”

The Gold Miners Index has been outperforming The S&P 500 Index long term. Looking at 32 Weeks, Weekly, we find a major S/R (Support and Resistance Price Level at $598.50( which happens to be The Month Of March Low), trading today before the close at $612.80. A close under $598.50 would signal the Uptrend is probably broken, or at least it will start trading weak relative to the S&P. So we’ll see what happens this week. For the newbs, gold miners can be extremely volatile, both Up and Down. Small position size allows the investor to ride the draw-downs, and sleep at night. These things drive The Lo Vol crowd crazy.

Gold Miners Index (GDM)


Author: Trendanomics

Trend following the markets with simple trend following strategies.

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