Are investors aware of risks ahead?
There was a quiet celebration last week among gold stock traders. On Thursday, an aptly named "golden cross" appeared on the daily chart of the Gold Miners Bullish Percent Index. You'll be forgiven if you didn't hear the champagne corks popping. Not everybody follows this metric.
The index tracks the proportion of gold stocks exhibiting bullish patterns in their point-and-figure charts. So, where does the cross come in? The index's 50-day moving average (the blue line in the price chart above) crossed above its 200-day average (the red line).