What a great finish to weekly SP action. We are above 6.4c (SIGNIFICANT); now it's support, and we should over the next 2 to 4 weeks be challenging 8c to 10c range. Another big move is just around corner, it seems.
I am feeling very positive as Gold Price is not relenting due to geo-political turbulence. Europe is threatening to go to CBDC as early as April, so big money and private gold is flowing to USA.
However I have another very exciting chart to share. It's XAU (Philadelphia Gold Index) divided by S&P500, which shows you when gold miners are going to rock n roll again.
It's a monthly log chart. Notice the recent breakout that ran up towards down sloping multi year resistance line. Once that line is broken, we may officially announce the beginning of the gold miners bull market. My yellow squiggles illustrate probable paths forward.
One thing is certain, like a volcano, things are a rumbling!
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