In the above daily chart we have gold stocks (GDX) with its relative strength line in green. The bottom chart is of the S&P500 (SPY). With the market pushing lower we are seeing gold stocks diverge by putting in a higher low. The relative strength line which is the gold stocks divided by the SPY is now breaking out to a new high highlighting the current strength.
Watch for a bullish move in the gold stocks in the coming days.
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