Big doing in gold. Gold was up 24.6 yesterday to 1309.9. We'll get both a bull and a buy signal if gold can hit 1340.
Below is a chart showing the speculative gold miners (GDXJ) as a ratio of the larger gold miners (GDX). The fact that the speculative gold miners are outpacing the staid, larger miners is bullish for the whole gold universe. I believe the bull market in gold is now resuming, and I expect it to accelerate as time goes on. Note below -- RSI and MACD, which are both bullish.
Just for good measure, I am including a P&F chart below of the same ratio as the chart above. It looks as though a base is building. Got gold?
Below is a P&F chart of the NYSE "Gold Bug's Index." This looks to me as though it's building a large base -- just more "silent" good news about gold!
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