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:
Gold Miners Index vs. S&P 500 Index