Gold Shares: Follow the money and leverage

The gold shares, despite general fear and loathing from the community, have been leading the stock market higher. Expect the gold shares to remain the leaders as an ongoing external default through devaluation is the only politically expedient option.

Gold Miners Index to S&P 500 Ratio:


The 8/4 gap has been filled on a contraction volume. This is bullish setup.

Gold Miners Index:


Follow the money and leverage. The junior gold miners stocks (index), as expected during a rally phase, are leading the majors.

Junior Gold Miners Index to Gold Minors Index: