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.
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