This morning a posted three charts that all look positive.
The price of gold, the S&P 500 and the HUI.
The S&P500 looks positive but is near resistance as mentioned earlier.
For now, it looks like it will continue to move gradually higher, but I should add it is the chart I trust the least.
I believe it is manipulated both directly through market purchases at times and indirectly through govt interventions such as money supply, interest rate cates, manipulated data etc.
For that reason I still hold and trade nothing but gold stocks. There is no telling how long they can keep markets looking good in the US. It may be months, it may be years (the years probably just wishful thinking).
I am also sure that the price of gold is manipulated but in an effort to keep it down.
Therefore when its chart is looking positive after extended weakness, I trust it the most.
Likewise the HUI and gold stocks individually.
After their bear market this year I have much more confidence in a significant rally in gold stocks from here as being genuine and not manipulated.
There are some that think there is no manipulation. I think they have their eyes closed.
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