Quick video review of the technical situation within the gold mining sector as the S&P 500 is starting to slow down after the recent run-up. I did a GDX vs. GDXJ chart comparison and talk about what to look for prior to initiating new positions in gold mining stocks. Remember to select the highest resolution and full screen mode for the best viewing experience. Enjoy the video!
http://www.youtube.com/watch?v=yQyFQcTFI_8
- Thin leadership
- Low volume during the August run-up
- GDXJ – Junior Gold Miners ETF significantly underperforming GDX – Market Vectors Gold Miners ETF
- “Hole in the wall pattern” – break-away gap
- For now bulls are trapped
- As long as price trades below the gap, avoid initiating new positions
Tue recht und scheue niemand. – Heinrich von Kleist
My public list with all my charts can be viewed here:
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID2791469
Buenas noches!
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