GDX:Gold Ratio Yellow Flag
If gold maintains its rally it will be the first time that it does so without the relative strength of the gold mining stocks. At this time the GDX:GLD ratio is breaking down and below its 200 EMA. Periods when the ratio has traded below its 200 EMA have preceded important selloffs in gold.
Comment
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Comment by Steven Vincent on November 4, 2009 at 9:17pm
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We should never trade without a proper setup. There is no setup in gold, only momentum. It can reverse sharply at any moment. No setup, no trade. Stay out until the market gives you a clear setup.
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Comment by BullBearGirl on November 4, 2009 at 5:08pm
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Good charts. Could save your members (including me) from jumping into PMs at just the wrong time.
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