Bullish Setup for the Miners

An interesting factoid from John Hussman: In the rare instances when:

1) The rate of inflation has been higher than 6 months earlier,
2) Treasury bond yields have been lower than 6 months earlier,
3) the NAPM Purchasing Managers Index has been below 50, and
4) the Gold/XAU ratio has been above 4.0,

then the XAU has soared at a rate of 123.63% annualized. In contrast, when none of these have been true, the XAU has plunged at a rate of -53.21% annualized.