A couple of extracts from Adam Hamilton's latest commentary.
"And this month's record June surge has catapulted GDX back up to another 200dma breakout and left it on the verge of another Golden Cross. These are some of the strongest buy signals ever seen, when 50-day moving averages cross back above the 200-day ones."
"Any gold rally at all, which again is highly likely as the lofty stock markets inevitably start selling off soon here, is going to push the HUI higher and trigger this next Golden Cross. That powerful buy signal, one of if not the strongest in all of technical analysis, will attract in a lot of new investment capital."
For those who need to know, GDX is an index comprised of major gold producers, and HUI is an index of gold producers (large and small) favored by "gold bugs".
Meanwhile, I'll be looking for Wall Street to soon hit a wall.
VP
