Thanks for the confidence Colin.
Miners have moved up on near, to below average volume over the past week or two and they got ahead of Gold last week, as we can see here, ...
GDXJ and Gold, ... screencast.com
... so a stall here is expected, but at some point, those miners that gaped up, and those that avoided filling the pivots, will eventually return to take care of those technical moves, this is not, ... in my opinion, ... a sustainable move higher, its moving on Geopolitical events not (yet) on monetary issues or on terror fear for the U.S exclusively, ... its going to take more than whats going on overseas to get people back in to the PMs, it might take the beginning move of the implosion of the U.S dollar (which I think will be the key event), ... or a dirty bomb close to home, I would imagine a car bomb would get some people thinking and moving.
When a day (day's) comes that we see Gold move up 20 to $40+ in one day is the day (week) many will act, I have no plans right now to buy into the markets, I am 100% out, but I am buying a substantial amount of Physical Gold and Silver, ... this is a mutual decision between family.
Regarding Gold, ... we last called $1,277/80 on gold, .. here is the post, ... Message 29564869 ... where gold had a pivot to fill around the $1,278 area.
We've since moved up and into the low $1,280, as mentioned in the above post, ... and have since pulled back, which I had the feeling it would.
The high came in at $1,284.70 on Monday and the closing high came in at $1,276.60 on Friday, and today we are forming a bullish DOJI, ... favoring the Bulls, but we've seen these before and TPTB pretty much do what they want on any given day in order to send out a signal, it be bear or bull, ... the corruption in these markets have gotten much worse and for the most part, I care not to participate at this time.
Gold seems to be forming a head and shoulders pattern, it would be an ideal example near $1,200, it needs a higher low nevertheless.
screencast.com
I see nothing below for gold to return to in this particular leg up, but it still has a pivot and an intersection right around the $1,200+-. Seems like every time the MACD bars start to move above center, they smack it back down, no need to jump in at this point, the lowers are nearing the top, so additional gains are likely, but I dont think they are sustainable.
I'm more concerned about whats going on world wide right now, especially in the Middle East, and eventually, ... I think its going to come to our shores, as I think its already here and waiting. Work is taking up much of my time right now, but that too will pass as summer comes and goes.
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Here is what Gold and the Dollar look like, ... and the chart should be just the opposite, ... given Geopolitical and Economically conditions.
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MUX is doing ok against gold for the past week, but as we saw GDXJ, ... its doing better.
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SAND and EXK are doing the best from my list.
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EXK
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