I now have short-term sells on the HUI, GDX, and gold. This has been looking awful since the Chinese announced their rate hike, and it's obvious that gold is signaling that that hike is more powerful than the Fed's QE2, probably because the former is fact while the latter is just talk, so far.
No confirmed short-term sells yet on any of the indexes though, and as there was a one-month lag between gold starting its rise and the indexes starting theirs, I'd be surprised if there was. Still, definitely a time for more caution has arrived.
No confirmed short-term sells yet on any of the indexes though, and as there was a one-month lag between gold starting its rise and the indexes starting theirs, I'd be surprised if there was. Still, definitely a time for more caution has arrived.
