Don't Ignore This Chart!

Gold&Silver Index Shows Short-term Relative Strength


The PHLX Gold & Silver Index ($XAU) is actually showing some strength with a small gain over the last six days. Perhaps this is because most other industry group indices are down and XAU is a contrarian play. The PerfChart below shows John Murphy's eight industry groups since 9-Dec. The Drug Index ($DRG) and Biotech ($BTK) are leading the way down with the biggest declines.

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Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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