Gold Miner Index Breadth: Directional Analysis

Posted by DenaliGuide Summit via 321Gold

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Screen Shot 2014-02-24 at 6.16.54 AM
The mining sector/S&P 500 ratio indicator


Below (LEFT) the WEEKLY, about 5X more powerful, than the DAILY BELOW (RIGHT)

Thus we see that BOTH are in HIGH position but not BLOWING off as 1 of the momentum measures has already topped out

and moved down in both the Weekly & Daily charts, giving both relative and absolute room upside. Thus, the picture

to me, hints that corrections will be flat, lazy and meandering without serious downward penetrations. So far, so good!!

(click on chart for larger view)

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….for the entire 2 page analysis go HERE