gold, page-100192

Gold stock sentiment indicator.
The sentiment indicator is rising in a stately manner at around 2.3% a day for the last 8 trading days.
Bit different to previous rises where it often spikes. Most of the contribution is from the junior sector.
Unlike previous occasions where gold price has been relatively stagnant and the market sells off, punters appear game to dip their toes into the pool.
Not surprising given how oversold the sector has been. Lots of value out there.
Volume has slowed to a dribble on many of the juniors.
There still seems to be a lack of confidence as producers, while rising, are yet to contribute to overall sentiment. This can be seen in the XGD that is up around 5% from the recent lows. Institutional investors yet to climb on board. I guess Friday is the day of reckoning.
Monday is a public holiday in the US so would not surprise me to see some unusual activity in the sector between late Friday and the Tuesday open in the US. A classic low volume period.
Be on your guard.
Here is the indicator. Would like to see it take a bit of a breather before Friday night as it currently leads gold price movement.
Lack of movement by producers makes me nervous. Far more confident when producers lead.
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