Thursday, August 16, 2007
Yield spread weekly & monthly
This monkey wrench in the works has been noted previously and given markets' tendency to eventually come to equilibrium, this could be why we are forced to have patience now at a time when the gold sector 'should' be rising. We weren't complaining when it exploded higher at a time it technically 'shouldn't' have. If current levels on the HUI & XAU are lost, unfortunately the long standing major support in the HUI 250-275 range comes into play. But first things first, weekly charts show what has been strong support here.