Discover more from AlphaCharts Blog
Emerging leadership in PM Miners
I started this blog a couple weeks ago showing how the stars were beautifully aligning in the precious metals space after a 4-month consolidation. This was based on trend, momentum, intermarket, sentiment, and seasonality factors. You can read that post here.
Since that time, the sector has followed through nicely. The Junior Silver Miners ETF (SILJ) has broken out of a 5-month base and the Junior Gold Miners ETF (SGDJ) is in the process of doing so.
Both these ETFs are now firmly sector leaders once again as shown in the chart below. Moreover, Junior miners are leading seniors, miners are leading metals, and silver is leading gold. Just what you want to see in a bull market.
Let’s also take a look at individual mining names to show the various breakout stages this sector is in
Here's 3 Gold Miners (Mid/Small Cap):
Here's 4 Silver Miners (Mid/Small Cap):
And Here's 5 Microcap Names: