Tuesday, July 16, 2013

Stealth Rally underway since June 24, with Base Building Under Construction

Well, paying attention and vigilance pays off, as you may have caught the kick-off, however humble, of this PM rally.  Lets look at what is underneath it, FIRST.
Such a nice illustration of why we use MONTHLY charts to make them a bit
more "TAMPER RESISTANT".  The Blue MACD Bars evened up, June with May,
indicating a cessation in downward momentum.
Now of course is the historical comparison I consider pretty valid.  I figure the
200 to 220 on HUI a base, and 20 to 22 on GDX as well.

I could ramble on about the GAPS etc, but in fact there is little point.

The real point to take away, IMO, is THIS:

  1/  We are in an initial rally, up about 8-10% across the board on PM stocks.

 2/  This rally is building a base.

  3/  Seasonally this rally succeeds.

4/  We dont know anymore or where this rally ends.  We have our suspicions
     BUT
  What will determine it is the actual inflow to this sector of miners from the market as a whole.......
so as funds flow into the overall market, it will depend upon how much heads for the PM sector, and the measure and speed of its inflow to the PM stocks.

So we have no need to CALL this move, just stay with it, watch it base, back and fill and advance until our intensity indicators tell us to do otherwise.

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