Gold and Silver Marketwatch

Gold and silver, and gold mining and silver mining equities, including small caps and explorers, continue on Avoid. In this article, we look at The Gold ETF $GLD (GLD), and, The Silver ETF $SLV (SLV) , relative strength versus The S&P 500 Index $SPY (SPY).

The S&P 500 Index ETF (SPY) is trading in excess of 40% annualized over the 50 day moving average, and, in excess of 30% annualized over the 200 day moving average. The Nasdaq 100 Index ETF $QQQ (QQQ) is trading above The SPY on both averages.

Both The Gold ETF (GLD), and, The Silver ETF (SLV) are trading under the SPY on both the 50 and 200 day averages. A trendinvesting, or trendfollowing, sign of strength, while the S&P 500 Index ETF (SPY) maintains an Uptrend, or Bull Market, gold and silver would gain relative strength, trading over the SPY on a 50 day average. That’s just one way to do this. There are many other ways.

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