gold, page-87138

Gold stock sentiment indicator.
Once again there was a late sell-off in gold stocks in the last hour of Aussie trading yesterday.
In my portfolio this was around a 2.5% reversal.
7 hours later as soon as COMEX opened, US$POG was sharply lower.
The opposite pattern also occurs.
This has happened on numerous occasions and worth keeping an eye on.
Might be a nice leveraged play here. Worth further investigation but outside my comfort zone ATM.
I wonder where the portfolio will go near the close of trade tonight?
I have always suspected that the Aussie market leads international markets, at least in the gold sector.
Today will probably see the average Aussie trader reacting to overnight POG moves early in our trading day.
This is how shakeouts work.
International indicators held up relatively well with stocks down between 1% and 2%.
A good sign of strength in this market.
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In the meantime the world is going to hell in a hand-basket – at least in relation to COVID.
A long, cold, dark northern hemisphere winter is looming.
Might throw a spanner in economic predictions.
Management of outbreaks in Australia are prone to bureaucratic mismanagement.
Standard result from a risk aversion response, a common feature of bureaucracies, rather than risk mitigation.
The same risk approach applies to large corporations, such as banks and social media platforms.
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The indicator is having a corrective pullback as anticipated.
It produces buying opportunities.
Still some time before the run resumes.
Here is the indicator.
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