Quick chart of $HUI Index, which is the gold bugs index. Notice the trend? The purple line is the 90 day moving average. Looks like the trend is still intact to my eyes. A few observations about the chart. All moving averages are still moving up. Higher highs and lows are still being made. The thing that will set off alarm bells for me is if the 90 day starts rolling over while price starts to break its trend channel. Until this happens the trend gets the benefit of the doubt. I do not care if the trend is up or down. As long as you are on the right side of the trend it becomes exponentially easier to make money.
Also look at AU, GG, IAG. Their charts are at their respective trend lines as well. I entered all of these and will be adding on confirmation the trend is resuming.
Of further note since 1977 January, February are historically very strong for gold.
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