$SPTGD Weekly
We had the highest volume week ever in the S&P TSX Global Gold Index. Gold stock indeces and the $CAD value of gold did not see a moving average crossover of the 13-week EMA with the 89-week EMA, as we had seen in the U.S. dollar gold price and in the TLT.
The top was clearly outlined in prior months by inverse corrrelation with the gold/silver ratio, and this correlation may yet outline the reversal here.
http://schrts.co/VYQPjS
$Gold:$CDW Weekly
The $CAD gold price saw a major percentage change, requiring an adjustment to the analysis. What you expect to see in a fan would be a backtest of the previous line, and this has finally fallen into place. The $CAD gold price has fallen below the 89-week EMA, which makes a retest of the previous fan line seem out of the question.
A drastic reversal in the equity markets would have to be in order, a reversal of the down trend in bond markets, or a drastic drop in the dollar would have to occur.
http://schrts.co/SjVmr7
-F6