Best looking weekly chart, page-1061

Sentiments toward gold stocks may be starting to change with the spx down about 3% yesterday but the gdx up about 5%. This is different to the norm over the last few months when the gdx would go down together with the spx even when gold price does not go down. Maybe some money is now starting to flow into gold stocks with every other asset class either correcting or already in a bear market except for some commodities. The day may be near when investors (not gold bugs) may be asking why am I not not in gold or gold stocks. If we were to look at the prices of some major australian gold stocks we will not believe that gold in australian dollars are in a long term bull market since 2018.
Anyway attached is the daily gdx chart which shows a bullish engulfing candle yesterday which usually signals a reversal.