Replies to post #34800 on Profunds index and sector trading (PRO)

[Namiar]

Hi Michael,

I do not follow any of the individual PM equities. And I do not have that high a level of comfort that the XAU is ready to explode.

Ya never know with the PMs. A few months ago the XAU formed a perfect ascending triangle then broke to the upside. Next day it collapsed - a nicely executed trap by daBoyz.

Despite all the upside crossovers of the XAU recently, you still get the feel that not enough downside work has been done yet to carve out an I-bottom.