[isatrader]

[isatrader]

GOLD has broken below the 30 week MA, but still has support from the 200 day MA, channel line and the April to June range. So it has an important test of demand to meet in the next week or so and potential rebound. Otherwise it could rapidly fall into a Stage 4 decline.

       

[pcabc]

GOLD has broken below the 30 week MA, but still has support from the 200 day MA, channel line and the April to June range. So it has an important test of demand to meet in the next week or so and potential rebound. Otherwise it could rapidly fall into a Stage 4 decline.

Plotting GLD as i has volume, this is my gold miners breadth chart:
   
Advance / decline is dropping for the miners as is Weinstein Momentum, and the McClellan and McClellan volume oscillators and summation indices.  The % stocks above their MA is below 30%, oversold against the 50 day EMA but has just dropped bearish, just below the 50% mark using the 200 day EMA as an indicator.

Silver has not broken down, yet.  Breadth is fairly similar, except that the % of miners above the 200 day EMA is much higher, high 60's.
   


Platinum looks fairly bullish.  But need to be careful here as there are fewer miners and few of them mine platinum only.
   

[pcabc]

Sector breadth

US & US Momentum
       


UK
   


Commodities
   


I assign various tags to stocks in my database.  This is a list of the frequency of tags coming up in my screener.  This is fairly crude, but may be of interest.
   

[isatrader]

Another bit of breadth on the current Gold Stage 3.

The Gold Bullish Percent Index remains on a Bear Confirmed signal since September, with 34.48% of gold stocks on a point and figure buy signal currently.

   

[pcabc]

US Sector charts

           
           
           
   

[pcabc]

Another bit of breadth on the current Gold Stage 3.

The Gold Bullish Percent Index remains on a Bear Confirmed signal since September, with 34.48% of gold stocks on a point and figure buy signal currently.

Looking at the price alone it looks like a tempting pullback, at least for the metal itself, if you only look at the slope of the 150 day MA.  But  I think that just is emotion from my part as there are a lot of other warnings in the data there.  From experience I know gold miners can be fickle.

[pcabc]

Sector market breadth

At the end of the week breadth seems to have strengthened.

US:
       


UK:
   


Commodities: