The Gold ETF – NUGT has just about hit it’s first target around the 20dma area.
The ETF for Junior gold miners, GDXJ has reached it’s 20 day moving average.
XAU has reached it’s 20dma with a power candle on the opening trading day of 2012.
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The SPX blasted higher on it’s first day of trading for 2012. The index stalled on the long-term trendline near 1284 as it should have. Money should go to work in these first few weeks. I’m anticipating a move to the weekly trendline, currently sloping down near 1330.
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