Creativity abounds in the headlines. Try this CNBS (truth be told) from Friday: “In this time of uncertainty, markets seem to rely on logic.” Folks, you cannot make this stuff up, (except they did.)
Gold stocks just achieved a major secular breakout to four-plus-year highs. A little more rallying will lift GDX to its best levels in nearly a dozen years.
I call it a “Bull Era Canary in the gold mines!”. There’s a massive inverse H&S base pattern on this chart and the right shoulder itself is another inverse H&S.
Gold is taking off. There is a lot of interest surging in gold, which sets the market up for a reaction. You're over the Bollinger bands, and that can mean you are overbought.
