I have always separated the Advance/Decline for the mining sector from the industrials. The mining A/D has been in a devastating downtrend for years. But interestingly this week we have managed to sting together five consecutive days of plusses. The last time the sector had five up days was in late June last year and that was a one off-rather than part of a trend.
I cannot guarantee that this will be the beginning of a new phase in the market but I do feel confident enough to suggest that we can definitely buy corrections.
Gold will meet some resistance around here but as mentioned previously I do think we are going to see the gold price work its way back up at the main resistance zone around 1500 to 1520 over coming months.
Repeat again - this is seasonally the best time of the year for gold so to step up to the plate at this time is very encouraging.
