Although Gold put in a bearish reversal on Friday and failed to breakout, do not expect the sector to begin a significant correction.Bull markets often register overbought conditions. Strong markets and strong trends reach overbought extremes. In other words, precious metals attaining overbought status is a good thing.
A breadth thrust occurs when a sudden burst of very strong participation follows a deep correction or bear market and very weak participation. Note the 15-day, 20-day, and 25-day readings of the GDX advance decline line.The corrections that followed the breadth thrusts were brief and relatively shallow.
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