Attachment 1 shows the ARCA Gold Bugs Index, HUI. The index just broke out sharply of a rectangle formation and points higher.
Attachment 2 is the GDX ETF. GDX tracks a market-capitalization-weighted index in global gold-mining firms. The ETF is very liquid and the largest gold ETF. The index broke out on the upside of a rising wedge formation.
Attachment 3 is the weekly chart of GDX (1 bar per week). It broke out of a medium-term falling wedge, which was formed since summer 2016.
Attachment 4 is the GDXJ. This ETF tracks a market-capitalization-weighted index in global gold-mining firms, focusing on small capitalizaion stocks. It is a much more dynamic ETF and should largely outperform GDX in a bull market in gold stocks. It does, however, also work the other way in a bearish environment. This weekly chart broke out on the upside of a falling wedge, which has been formed since summer 2016.
Conclusion: Gold and gold stocks are trading over the last few weeks in a much friendlier environment.
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