The majority of stock indices in the states are doing great this year and most are either hitting all-time highs or very near them. The Power of the Pattern shared at the beginning of the year that the Gold Bugs Index (HUI) and miners, could be poised to out perform the S&P 500 for years to come. SEE POST HERE
Below looks at Year-to-date performance of a few stock indices, bonds, Gold and Mining stocks
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The broad market (S&P) is up nearly 5%, the first 6-weeks of the year, which is an outstanding start to 2017. On 1/5/2017 patterns suggested that Miners ETF’s GDX and GDXJ could do very well going forward, due to a potential multi-year reversal pattern (Head & Shoulders topping Pattern) in the SPY/Gold Bugs Ratio.
Even though the broad market has done well, at this time, price movement still suggests that Miners could continue to out perform the broad markets, as GDX is up around 19% on the year and Junior miners (GDXJ) is up over 30%.
Full Disclosure- Premium and Metals members bought GDXJ on 12/27/16. If the SLV/GLD and GDXJ/GDX ratios break from 6-year falling channels, both would suggest that the metals sector could be breaking long-term down trends (bear trends), which would suggest more strength is to come, in the metals arena.