gold, page-98340

Gold stock sentiment indicator.
A pattern that has emerged from the sentiment charts for crypto currencies goes like this:
When the SECTOR is in a bull, down turns are short and sharp while the up legs are over a longer time frame. Sentiment does not necessarily go higher or lower in extremes. Actually the peaks and troughs are relatively consistent. The opposite occurs in a sector bear trend.
You end up with a saw-tooth pattern where the leading and lagging edges change slope.
The duration or width of the tooth is relatively consistent. Because of the way cryptos are traded, each tooth is a little over 1 month in duration. Could be the influence of elevated day trading in the sector.
The young men running with the crypto sentiment indicator have made serious profits over the last few days. More to come once it tops out and the reverse trade is taken.
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I am now beginning to wonder if we are seeing a similar pattern emerge within the gold sector.
Yesterday there was a small reversal in sentiment that suggests we are at trend and stocks are about to recover.
The position of this low suggests the upward slope has changed - longer - or a trend has begun from a different position. I am inclined to think the former.
The sentiment indicator DOES NOT identify money flows. It only determines the number of rising versus falling stocks.
I am in the process of devising another indicator that captures data from each of the stocks to produce an overview of price/volume moves in the sector based on Accumulation/Distribution.
There will be two components - a weighted and an unweighted indicator that should identify overall performance or direction for juniors v producers without having to separate the the stocks into classes. Should be interesting.
When I see A/D charts looking like this for a random junior with the odd decent report...
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Versus a stable but growing random producer with an A/D chart like this...
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Money flows into and out of the sector could identify useful market macro trends.
Still have to determine normalising factors and conduct around 4 years of back testing so don't expect anything soon.
There is a dearth of useful tools for the Aussie gold sector.
Let the data do the talking.
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Here is the sentiment indicator.
The current level must be held else there is likely to be another bear spike.
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