This Week in Gold
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GLD - on TLBSS this week.
SLV - remains on a sell signal.
GDX - remains on a sell signal.
XGD.TO - also remains on a sell signal.
Summary
Since being out of the markets three weeks ago, we are sitting in cash and wait for new signals and set ups. As long as the June lows hold in the ETFs, we still expect a resolution to the upside in the weeks ahead.
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Disclaimer: Words of caution: public readers of my commentaries should exercise their own judgment as to whether to buy or sell anything. Never trade based on other people's analysis. Knowing which way to place our bets is only half of the formula to success. Wishing you peace and profits......................................
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Jack Chan is the editor of Simply Profits, established in 2006. Chan bought his first mining stock, Hoko Exploration, in 1979, and has been active in the markets for the past 37 years. Technical analysis has helped him filter out the noise and focus on the when, and leave the why to the fundamental analysts. His proprietary trading models have enabled him to identify the NASDAQ top in 2000, the new gold bull market in 2001, the stock market top in 2007, and the US dollar bottom in 2011.
