Paracelsus, MACD is a lagging indicator, rather than leading. It's made up of moving averages that are calculated based on past performance and is therefore hardly a reliable indicator for future performance.

I just mentioned AGQ in a posting on the SPQ.V messageboard as I do agree that AGQ (in additon to SPQ) is one of the more bullish looking charts in my mining portfolio. I mainly use oscillators, stochastics and Williams %R.

But it's especially the ADX/DMI that show a positive trend change, which is very comforting.