Commodities: Gold, Miners, Silver, TSX – Video Tip Of The Week
Chris Vermeulen of The Technical Traders talks about what is going on with the markets. Are we in the late stages of a bull market for stocks? An indication of this is when commodities typically start to come to life and eventually outperform all other sectors and indexes.
Taking a look at the DBC, a commodity index tracking fund, the chart is rebounding after putting in a major bottom. On the Toronto Stock Exchange (TSX) chart, which is commodity-heavy, we are now on the verge of coming out of a double bottom that has occurred over the last few weeks. Looking at GDXJ, which is the Gold Miners, it appears that they are trying to put in a significant market bottom before breaking through the neckline. SILJ, the Silver Miners, have similar price action on their chart.
With these indicators of growth potential, the question remains – during the late-stage bull market for stocks, will commodities continue to strengthen and then take off to the upside over the next few months?
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Disclaimer: None of this material is meant to be construed as investment advice. It is for education and entertainment purposes only. The video is accurate as of the posting date but may not be accurate in the future.