Gold Stocks

A rising gold stock to S&P 500 ratio suggests that gold stocks are leading the stock market. This rising trend is a byproduct of currency devaluation.

Gold Miners Index to S&P 500 Ratio:


Trend energy in gold stocks has reached a new high in May. This is bullish for the gold shares, but stabilization in stocks will be required before the bulls can regain control.

Gold Miners Index Monthly (GDX):


The 5/11, now 5/19 gap, sits like anvil over price. This zone must be cleared with sufficient energy before the next up wave can begin. The most probably outcome, given the current trading environment, will be a break of resistance over time through attrition.

Gold Miners Index Daily (GDX):