Wednesday, June 5, 2013

Still Golden

We remain cautiously optimistic that the needle continues to move in the right direction in the precious metals sector. Despite a stumbled start in spot prices, the miners relative to gold have found traction and are now outperforming since the May 20th low and reversal higher. In terms of the tea leaves brewing bullish, its a good one. You'll notice that the GDX:GLD ratio has led the move and is the first to break through its 50 day SMA - which since last fall has been a rising ceiling.

*  All stock chart data originally sourced and courtesy of 
*  Subsequent overlays and renderings completed by Market Anthropology