Thursday, January 2, 2014

Breakout Chart for the Amex Gold Miner Index - as of Close 2013 New Years Eve - BAD NEWS FOR BEARS

I think this rally is just getting started and has a ways to run.  As you see it just crossed the Zero line to the upside..   This is a chart of the Advances - Declines for the AMEX Gold Miners Index, and so probably represents the 30 or so largest miners.  It can just be called a Breadth Chart for short.....Comparing it to the July rally,  I am guessing it is a First Leg.  Time will tell.

No comments: