GDX relative to SPX looks like it is bottoming - note RSI divergence the last several months plus huge support at recent lows on relative chart going back a few years. It seems to me that GDX (gold miners) are probably going to significantly outperform the overall market in the months and quarters ahead. I am stepping into some selective longs looking for alpha.
Kommentera:
Since I posted this "GDX to outperform" note about 4 months ago GDX has beaten SPX by more than 30%. At least another 10% outperformance in weeks/months ahead imo if not substantially more. This move is not over yet.