HUI Gold Bugs index is doing this so far today, busting a move above the converged moving averages. It would lead others or, as we noted in NFTRH 597:
Gold stocks are not about inflation. They are the gatekeepers of the transition to inflation.
NDX and SOX are doing this today, halting at said moving averages much like Huey did over the last 3 days. Here is NDX pausing to think about things as it enters a key zone.
And here is SOX looking much like HUI did at its converged moving averages.
RSI is similarly positive and nicely trending up on all three indexes and MACD is negative but triggered up on all three. Interesting, anyway. These bedfellows are not usually sleeping together but the Corona crash has made a lot of uneasy bedfellows, hasn’t it? So has the inflate-or-die Fed.
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