The Canadian Technician

Gold Stocks Surge! Want A List Of Strong Ones?

Gold stocks bubbled Tuesday and there were some great trend lines broken. So let's work through a collection of the Gold stocks. Here is the XGD.TO Miners ETF in Canada. The SCTR is going ballastic and is still a little below my trigger line of 75. However, this is for the gold stocks average. On the price panel, the trend line finally broke Tuesday and the MACD is moving above zero. The Relative Strength in purple is still weak. We would like to see this move to three month highs. At this point it is just moving to one month highs. Patience should kick in here, but the other improvements suggest to pay attention now. 

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$TSX End Of Quarter Review

The $TSX put in another lower low and a lower high this week and closed down relative to last week. The sideways trading range we see in the Canadian market is reminiscent of the period from July to October where the market traded around a level. The level currently shown as a red line is about 15500. On the price panel, this was the first week on the one year chart below that the $TSX never touched or got above the 10 Week MA (blue line). The RSI and MACD are still in a bullish posture on this shorter term chart although the MACD has crossed below its signal line. 

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