gold, page-76247

Gold stock sentiment indicator.
Most of my thoughts have already been posted.
My view of the All Ords is dim.

Now for contrast, the sentiment indicator has thrown up a curve ball.

After the indicator topped out at 75% it fell to 57% on the 22/4.

On the 23/4 the leading indicators popped up above to 63%. This is the only time the leading indicators have been higher since the top and were there for only one day.

The indicator then reversed and hit 64.8% on the 28^th. The leading indicators has already fallen to 50%.

Yesterday the leading indicators averaged 62%, well above the sentiment indicator.

This is with the indicator already on the way up. Last time it was putting the brakes on the fall.

Monday is going to be interesting. If the leading indicators stay elevated (very likely) then we could well see a reversal and another run towards 75%.

First it has to get above 61%, which will be a higher high then take out 65%. Watch for higher lows and highs.

Given the way gold and stocks are moving, this may well be aligned with a breakout in POG for the next leg up.

Just for interest, the lagging indicator is at 72%. This means 72% of gold stocks are at least 30% above their recent lows.
This is what I am referring to when I mention flagpoles.

Show time? Let’s wait and see.