RE: Stan Weinstein's Stage Analysis and Market Breadth - Technical Analysis
Gold v Gold Miners
My breadth plot of gold versus gold miner breadth is quite negative at present. 1. The 150 day SMA for the gold price is now rising slightly, the curve had been falling but was slowly levelling out. So this is a good sign. However, the gold price has just dropped below it. However, every other breadth indicator, 2 - 15 is dropping. The Silver Cross Index is essentially flat at around 70%, but it is on its 10 day EMA after topping at around 70%. Based on this, things are not bullish for gold miners.