Glittery Miner:
Markets always seek out to confound the most. That goes for me, whoever is reading this, and especially to those who think to the contrary. In our last Materials Note during the first week of December, we highlighted “No Golden Goose”. This past week sure enough some names in the space flourished. GFI rose more than 6% and managed to CLOSE the week above the very round 10 number. RGLD registered a bullish WEEKLY hammer candle and CLOSED above the very round par figure (while we are on the topic of precious metals one should admire the double bottom the SLV made at the very round 20 number which recorded a doji candle which often indicates that selling pressure is abating). Below is the chart of NEM and we must state that volume this week, particularly Friday, may be a bit misleading with the quad witch and all the rebalancing. But PRICE action is irrefutable and if this stock can climb above 60 this charts complexion is going to take a look for the better in 2022.