GOLDBUGS AMEX Goldbugs Index (GOLD)

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The Ord Oracle
By Tim Ord

* October 14, 2016

Monitoring purposes SPX: Short SPX on 10/5/16 at 2159.73.
Monitoring purposes GOLD: Covered Short GDX on 10/6/16 at 22.88= gain 17.5%; Short GDX on 9/22/16 at 27.75.
Long Term Trend monitor purposes: Short SPX on 1/13/16 at 1890.28



We have a cycle low due in October and we are looking for a bullish setup in this timeframe. The second window up from bottom is Up down volume Percent with 10 period moving average. When this ratio reaches below 60, an oversold condition is present. Next window up is the Advance/Decline Percent and readings below 50 indicate an oversold condition and both of these indicators reached oversold conditions. The last time these two indicators reached this type of oversold condition was back in mid July 2015 and market wiggled down slightly over the next couple of weeks. The bottom window is the GDX/GLD ratio which is still trending down and a short term bearish sign. In a nutshell market is building a low near current levels and has not turned up yet. Covered short GDX on 10/6/16 at 22.88 for gain of 17.5%. Short GDX on 9/22/16 at 27.75.

Tim Ord,
Editor

http://stockcharts.com/articles/tac/2016/10/tim-ord-the-ord-oracle-october-14-2016.html

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