Gold & the HUI Gold Stock Index

Posted by Ross Clark & Bob Hoye

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As of Friday gold has registered the most oversold reading since May 21 in our Summation Index.  When such readings occur in an uptrend they are classified as Springboards that are initially capable of pushing a market from an oversold condition back toward resistance.  In an accelerating uptrend (i.e. 1978-1980) this is all you expect to see before the next leg to new highs.  If we are to experience