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Daily Report : Gold miners pull the rug once again

Jason Goepfert
2024-11-20
A month ago, gold and gold mining stocks were hitting on all cylinders. For those familiar with the group, it was a warning sign because they have not responded well historically to such positive momentum. Now, most of them have fallen into bear markets or at least corrections, and they have much to prove.
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Headlines

Gold miners pull the rug once again: A month ago, gold and gold mining stocks were hitting on all cylinders. For those familiar with the group, it was a warning sign because they have not responded well historically to such positive momentum. Now, most of them have fallen into bear markets or at least corrections, and they have much to prove.

Smart / Dumb Money Confidence

Smart Money Confidence: 37% Dumb Money Confidence: 64%

Risk Levels

Stocks Short-Term

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Research

Gold miners pull the rug once again

By Jason Goepfert

BOTTOM LINE
A month ago, gold and gold mining stocks were hitting on all cylinders. For those familiar with the group, it was a warning sign because they have not responded well historically to such positive momentum. Now, most of them have fallen into bear markets or at least corrections, and they have much to prove.

FORECAST / TIMEFRAME
None

Sentiment Risk On / Risk Off Overview

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Indicators at Extremes

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% Showing Pessimism: 9%
Bullish for Stocks
Inverse ETF Volume
OEX Open Interest Ratio
OEX Put/Call Ratio
Mutual Fund Flow (no ETFs)
CSFB Fear Barometer
% Showing Optimism: 40%
Bearish for Stocks
Smart Money / Dumb Money Confidence Spread
S&P 500 Price Oscillator
ISE Equity Call/Put Ratio
Short-term Optimism Index (Optix)
Rydex Bearish Flow
Rydex Ratio
Rydex Money Market %
S&P 500 Down Pressure
AIM (Advisor and Investor Model)
% Showing Excess Optimism
Dumb Money Confidence
SKEW Index
Retail Money Market Ratio
Equity Hedging Index
ROBO Put/Call Ratio
Options Speculation Index
AAII Bull Ratio
NAAIM Exposure Index
Major Index Combo
AAII Allocation - Stocks
NYSE Available Cash
Equity / Money Market Asset Ratio
Mutual Fund Cash Level

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Optimism Index Thumbnails

Sector ETF's - 10-Day Moving Average
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