GG Leads – What Do I Mean?
While I don’t have any statistical support for this, I observe it seemingly quite often….where GG breaks out of a chart pattern (bullishly or bearishly) ahead of the GDX and beats the GDX to a lower low or higher high. It often tips me off and allows me to be poised for a trade. Good example can be seen right now in the chart below. I never intended for my phrase to mean that GG leads all miners up or down….I only compare it to the GDX, for which it is the biggest component. btw – GDX down 1.7% today….GG down over 3%.
GoodEye Mark
Wouldn’t be surprised to see a gap down on the mining indices tomorrow
while I don’t doubt it could happen, I really wonder how this chart could be anything but a buy?
http://schrts.co/exBAuB
and then I see the breakout and backtest on this one and wonder the same thing.
http://schrts.co/dystiY
is an 84 % drop in a bear market not enough?