Our proprietary cycle indicator remains down.
Our short position was stopped out at break-even; stay neutral for now.
Our ratio remains on sell signal.
Speculation remains near the all-time high.
Gold stocks as represented by $HUI are on a major buy signal, but with the
cycle down, a multiweek correction is in progress. Investors should wait for
the next cycle bottom to accumulate gold stocks or ETFs.
Silver is on a long-term buy signal, and long-term signals can last for
months to years, more suitable for long-term investors.
SLV is on a short-term buy signal, and short-term signals can last for days
to weeks, more suitable for traders.
Summary
A bull market in gold and silver has been confirmed, but the cycle is down
and a multiweek correction is in progress. Caution is advised.
Jack Chan is the editor of simply profits at www.simplyprofits.org,
established in 2006. Chan bought his first mining stock, Hoko Exploration, in
1979, and has been active in the markets for the past 37 years. Technical
analysis has helped him filter out the noise and focus on the when, and leave
the why to the fundamental analysts. His proprietary trading models have
enabled him to identify the NASDAQ top in 2000, the new gold bull market in
2001, the stock market top in 2007, and the U.S. dollar bottom in 2011.
Disclosure:1) Statements and opinions expressed are the opinions of
Jack Chan and not of Streetwise Reports or its officers. Jack Chan is wholly
responsible for the validity of the statements. Streetwise Reports was not
involved in any aspect of the article preparation or editing so the author
could speak independently about the sector. The author was not paid by
Streetwise Reports LLC for this article. Streetwise Reports was not paid by
the author to publish or syndicate this article.
2) Jack Chan: We do not offer predictions or forecasts for the markets. What
you see here is our simple trading model, which provides us the signals and
set-ups to be either long, short, or in cash at any given time. Entry points
and stops are provided in real time to subscribers, therefore, this update
may not reflect our current positions in the markets. Trade at your own
discretion. We also provide coverage to the major indexes and oil sector.
3) This article does not constitute investment advice. Each reader is
encouraged to consult with his or her individual financial professional and
any action a reader takes as a result of information presented here is his or
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This article is not a solicitation for investment. Streetwise Reports does
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Charts courtesy of Jack Chan
