More good news for gold stocks: We haven’t seen this since the bull market peaked
From Chris Kimble at Kimble Charting Solutions:
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A major shift in the Gold Bugs/SPY ratio could be taking place!
The Gold Bugs/SPY ratio has fallen on hard times as stocks have outperformed the Gold bugs index over the past few years by a wide margin, pushing this index down a ton!
Are we now witnessing a major trend change? Could be!!! The ratio may have created a double bottom this year at (1) and over the past few weeks its attempting to break out of its steep falling channel.
Premium members bought $GDX on June 5, and so far the action has been very rewarding in this trade. Should this ratio continue to head higher, it could well put even a bigger smile on the faces of people owning the Gold Bugs index.