ASX 200 Heat Map: Gold Miners Drag as Newmont and Evolution Slide
Another session, another down day for the ASX 200 Index. On the downside Newmont is down 4.46% and Evolution Mining is down 4.85%. They are doing the damage in the gold mining pocket while BHP (-2.33%), Rio Tinto (-1.45%), Westpac (-2.42%), and ANZ (-2.11%) added some pressure from the heavyweights. The pullback in the Index continues.
This down day seems to be with some capitulation with only 29% of stocks in the ASX 200 Index being above their 20-day MA. A cross back above 30% is a bullish signal for me. We may be finally seeing the end of this pullback.