GOLDBUGS AMEX Goldbugs Index (GOLD)

[DiscoverGold]

The Ord Oracle
By Tim Ord

* November 21, 2016

Market Setting Up For A Decline In January?

SPX Monitoring purposes; Long SPX on 11/11/16 at 2164.45; sold 11/15/16 at 2080.39 = .74% gain.

Monitoring purposes GOLD: Covered on 11/9/19 at 24.59 = gain .07%: Short GDX 11/2/16 at 24.78.

Long Term Trend monitor purposes: Short SPX on 1/13/16 at 1890.28



The above chart is the daily GDX.The Up down Volume %/Advance/Decline % ratio is below “1.00” and a short term bearish sign. The bottom window is the Advance/Decline percent which is below “0” and also bearish for short term. Next window up is the Up Down Volume Percent which is also below “0” in a bearish manner. Though the monthly charts suggests a bottom is near the daily chart have not turned bullish yet. The monthly GDX chart does suggest a buy signal could be triggered between the 20.00 to 19.00 level.

We are staying neutral on GDX for now.

http://www.talkmarkets.com/content/us-markets/market-setting-up-for-a-decline-in-january?post=113302

• DiscoverGold

Click on "In reply to", for Authors past commentaries