What's going on with gold as it rebounds?

Comex gold bottomed on Dec. 3, 2015, while the VanEck Vectors Gold Miners ETF (GDX) - Get Report bottomed on Jan. 19. The largest gold mining stocks -- Barrick Gold (ABX) and Newmont Mining (NEM) - Get Report -- bottomed first on Sept. 23 and Aug. 26, respectively. Yamana Gold (AUY) - Get Report and Goldcorp (GG) bottomed on Jan. 19 and Jan. 21, respectively.

Gold prices set their 2016 high of $1,377.5 the Troy ounce on July 6, while shares of the gold ETF and the four gold stocks peaked between July 6 and July 12.

Gold and the gold stocks were the strongest "flight to safety" investments. But they stalled on Tuesday as the Dow Jones Industrial Average and S&P 500 set all-time highs.

These charts should help investors decide what to do.

The gold stock ETF and shares of gold mining stocks have overbought weekly charts after strong year-to-date performances. Before we look at the charts for the ETF and stocks, let's look at the weekly chart for Comex gold.

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Courtesy of MetaStock Xenith

Gold closed Tuesday at $1,333.3, up 25.8% year to date and up 27.5% since trading as low as $1,045.4 on Dec. 3. The weekly chart ended last week positive and will stay positive given a close on Friday, July 15, above its key weekly moving average of $1,300.3.

Note how gold had been below its 200-week simple moving average since the week of May 17, 2013, when this average was $1,445.3, until the week of June 24, when the average was $1,310.6. This week's high was a failed test of the down trend that connects the highs set during the weeks of Sept. 9, 2011, and the week of Oct. 5, 2012. The downtrend comes in at $1,380.1 this week.

The weekly momentum reading is projected to rise to 76.11 up from 72.54 on July 8.

Investors should always consider reducing holdings of an asset when a major downtrend resistance is tested.

Here's the scorecard for gold, the gold stock ETF and the four gold mining stocks.

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Reading the weekly charts: The weekly chart shows a red line through the price bars, marking the key weekly moving average (a five-week modified moving average). The green line is the 200-week simple moving average, the "reversion to the mean." The study in red along the bottom of the chart is weekly momentum (a 12x3x3 weekly slow stochastic), which scales between 00.00 and 100.00, where readings above 80.00 indicate overbought and readings below 20.00 indicate oversold. A negative weekly chart shows the stock below its key weekly moving average, with weekly momentum declining below 80.00 in a trend toward 20.00.

Here's the weekly chart for the VanEck Vectors Gold Miners ETF.

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Courtesy of MetaStock Xenith

The gold ETF closed Tuesday at $29.40, up 114.3% year to date and up 137.1% from its Jan. 19 low of $12.40. The ETF set its 2016 high of $30.73 on July 11. All four of the gold mining stocks profiled below are among the 50 components of this ETF. Three are the top-three holdings of the ETF.

The weekly chart for the gold ETF is positive but overbought, with the ETF above its key weekly moving average of $27.16 and above its 200-week simple moving average of $25.13. The weekly momentum reading is projected to rise to 90.01, up from 88.12 on July 8, becoming more overbought.

Investors looking to buy the gold ETF on weakness should do so at $26.12, which is a key level on technical charts until the end of July.

Investors looking to reduce holdings should sell strength to $35.30, which is a key level on technical charts until the end of 2016.

Here's the weekly chart for Barrick Gold.

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Barrick Gold is the largest component of the ETF, at a weighting of 10.11%. The stock closed Tuesday at $20.62, up 179.4% year to date and up 248.9% since bottoming at $5.91 on Sept. 23. Barrick set its 52-week high of $23.47 on July 6.

The weekly chart for Barrick is positive but overbought, with the stock above its key weekly moving average of $20.08 and above its 200-week simple moving average of $17.51. The weekly momentum reading is projected to slip to 85.87, down from 87.84 on July 8, with both readings well above the overbought threshold of 80.00.

Investors looking to buy Barrick on weakness should do so at $14.11, which is a key level on technical charts until the end of 2016.

Investors looking to reduce holdings should sell strength to $21.41, which is a key level on technical charts until the end of July.

Here's the weekly chart for Yamana Gold.

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Yamana is a component of the gold ETF, with a weighting of 2.45%. The stock closed Tuesday at $5.74 and has a gain of 208.6% year to date. It is up 315.9% since bottoming at $1.38 on Jan.19, as an "option on survival" (as is any stock trading between $1 and $3 a share). Yamana set its 52-week high of $5.97 on July 12.

The weekly chart for Yamana is positive but overbought, with the stock above its key weekly moving average of $5.17 and well below its 200-week simple moving average of $7.71. The weekly momentum reading is projected to rise to 89.48 this week, up from 87.14 on July 8, becoming more overbought above the threshold of 80.00.

Investors looking to buy Yamana on weakness should do so at $4.71, which is a key level on technical charts until the end of July.

Investors looking to reduce holdings should sell strength to $7.10, which is a key level on technical charts until the end of 2016.

Here's the weekly chart for Goldcorp.

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Goldcorp is the third-largest component of the gold ETF, with a weighting of 6.82%. The stock closed Tuesday at $19.46, up 68.3% year to date. It is up 105.7% since bottoming at $9.46 on Jan. 21. Goldcorp set its 2016 high of $20.38 on July 6.

The weekly chart for Goldcorp is positive, with the stock above its key weekly moving average of $18.71, but below its 200-week simple moving average of $23.50. The weekly momentum reading is projected to rise to 72.39 this week, up from 66.04 on July 8.

Investors looking to buy Goldcorp on weakness should do so at $18.40, which is a key level on technical charts until the end of July.

Investors looking to reduce holdings should sell strength to $24.09, which is a key levels on technical charts until the end of 2016.

Here's the weekly chart for Newmont Mining.

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Newmont is the second-largest component of the gold ETF, with a weighting of 8.92%. The stock closed Tuesday at $39.96, up 122.1% year to date and up 159.6% since bottoming at $15.39 back on Aug. 26, 2015. Newmont set its 52-week high of $41.46 on July 6.

The weekly chart for Newmont is positive but overbought, with the stock above its key weekly moving average of $37.28 and above its 200-week simple moving average of $28.10. The weekly momentum reading is projected to rise to 91.81 this week, up from 90.69, with both readings well above the overbought threshold of 80.00.

Investors looking to buy Newmont on weakness should do so at $37.07, which is a key level on technical charts until the end of July.

Investors looking to reduce holdings should sell strength to $44.79, which is a key level on technical charts until the end of July.

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.