Look at the chart below: Philadelphia gold index divided by S&P. OMG!! It is officially a declaration of beginning of Gold & Silver stock Bull Market. The downtrend is broken and closed above it on a monthly with ONE DAY TO GO (Monday).... Unless by some miracle, GOP goes down on Monday, and DXY up, and markets UP.
In that case if it manages to go under it - clear manipulation by bullion banks to drag this one out - we will have to wait another month for confirmation, ie. the close above the grind line. Of course you can draw another grind line that has not been reached (0.585), but I like to ignore the wicks in the candles as much as possible, so the grind line that was breached at 0.54 is more appropriate in my opinion.
Anyhow. The capital rotation into goldies is just barely getting started. Our SP will go ballistic very soon as every Jack and Jill will want to be in. That would be beautiful!
HRZ Price at posting:
6.3¢ Sentiment: None Disclosure: Held
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