A death cross (50 DMA crosses down over 200 DMA) developed on the Philadelphia Gold and Silver Index ($XAU) late in September. The last time this took place was in 2008 and the results were disastrous for precious metals.
Of course, it's only one indicator and there have been some significant rebounds when the RSI crossed below 30; nevertheless, one of the RSI's worst failures to provide a timely buy signal took place the last time we saw the death cross.
