GLDW - Gold-Stock Major Bull Breakout
The gold miners' stocks surged to a major bull-market breakout this week! Powering decisively above their years-old secular resistance is a hugely-important technical event. It proves this gold-stock bull is alive and well, greatly improves sentiment, and puts this high-flying sector on countless more traders' radars. New bull highs fuel self-feeding bullish psychology, as speculators and investors love chasing winners.
The gold miners' stocks are essentially leveraged plays on gold, since its price overwhelmingly drives their earnings and thus ultimately stock prices. So gold-stock bulls and bears mirror and amplify gold's own major market cycles.