Champ, I would also like to think so but I think it is s matter of perspective. The daily TF is definitely looking likes trend change but I focus specifically on the weekly as this is my exposure holding period. Therefore I cautiously refer to the momentum has changed to the upside respecting that the weekly is still trending down. There isn't enough weekly candles and swing points to technically defined a trend change personally. From my view historically post 2011, there were a few bull swings but each time the momentum petered away dissapointingly.
Some folks were punting on the spec end of this sector and did very well. Other went for quality and equally did well too. Like they say, a rising tide floats all boats. Again it is a matter of perspective before dipping in. Early bird catches the worm first but one need to check the greed at the infancy of an upside momentum/trend change because it can all unravel just as spectacularly. I see it happening in front of my eyes from 2012 to last year! Yesterday's Angels all got decimated as the action of collapse went full force! Being on the wrong side using long term is a false comfort.
Let's hope gold can hold its value worst case scenario in USD. AUD doing all the heavy lifting from our perspective. We are probably one of the last 2 remaining economies in the developed worlds to revert to the mean to where the rest have been for some time. Low or no growth is the new normal. Is that gold friendly, I am unsure. The jury is still out for me. Good luck.
