HUI vs. SPX

While a laggard due to the sector’s former need for a hard correction and the election’s aftermath, the gold stock sector has recently broken out vs. the S&P 500 as well.  It’s not as bullish as CDNX-SPX from the previous post, but this is constructive for the gold stocks and also for our current view that this is definitely not a passive, ‘set it ‘n forget it by buying SPY’ market this year.  There will be places to be and others not to be.  <insert goofy Shakespeare joke here>.

What great technical work Huey has done in bleeding out the gold bug optimism that was too rampant last summer.

hui-spx

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