Wednesday, November 26, 2014
Miners that have already rolled over: what does it mean?
Argonaut has already rolled over and resumed its descent. It's below its EMA and below the Bollinger mean, and worth less today than it was yesterday - how clearer a signal than that do you need?
Endeavour isn't as clear, but it is already failing its EMA.
McEwen has also failed its EMA and is trending back down.
Sandstorm is also failing its EMA, though that's also not as clear.
So are the junior miners in the process of rolling over, and quality is going to drop last?
Or is the market just reacting to last week's sector-wide pop, and only now starting to sort the wheat from the chaff?
I guess we'll know in a couple days max.