We use data from the Barron’s Gold Mining Index dating back to 1932. Other than during the final weeks of the 1996-2000 bear market gold stocks (according to this chart) could be at their most oversold point in history. Twice it rebounded and the final time it consolidated for weeks before falling to its bear market low in the second half of 2000. Note the confluence of trendline and lateral resistance just below $33.
The 50% retracement of the recent 53% decline (June to December) is $33.
Click to enlarge (Source: MBA) Lynn Fisher, MBA’s vice president of research and economics, attributed the loosening to jumbo loan programs as well as loan programs for borrowers with lower credit scores and low down payments.
Freddie Mac’s 3% down mortgage is one example of this.
The rising number of bikers in traffic, the increased construction of bicycling bridges (e.g.