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"As a technician, I feel that there are few analysts that offer value for me, but you do. Your work on Gold ratios has helped my analysis greatly." --Jordan Roy-Byrne, CMT (The Daily Gold) 4.9.10
Monday, April 30, 2012
GDXJ-GDX Ratio not buying it...
This theoretical leading indicator led the downturn out of the Euro hype blow off last summer, bullishly diverged, bounced into a little New Year's party and has been in a 'Handle' or Flag consolidation ever since. We looked at this ratio in NFTRH185 and again in an update earlier today.
I was wondering why my account was so green on a red senior gold miner day. Looking pretty damn good I must say. Steady as she goes.