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Tuesday, March 28, 2017 8:03:23 AM
By Tim Ord | March 27, 2017
• SPX Monitoring purposes; Long SPX on 3/24/17 at 2343.98.
• Monitoring purposes Gold: Sold GDX at 24.33 on 2/22/07 = gain 20.15%; Long GDX on 12/28/16 at 20.25.
• Long Term Trend monitor purposes: Covered short SPX on 3/24/17 at 2343.98: Short SPX on 1/13/16 at 1890.28
The third window up from the bottom is the GDX/GLD ratio. Normally this ratio leads the way for GDX. Recently, GDX/GLD ratio made a lower high as GDX made a higher high and a short term negative divergence. This condition suggests GDX rally may fail. The top window is the RSI for GDX/GLD ratio which is hovering around the 50 level. Readings above 50 shows GDX/GLD ratio is in an uptrend and bullish and below 50 in a downtrend and bearish. The RSI for the GDX/GLD ratio has been hovering near the 50 range and not showing strength and a bearish sign. The bottom window is the On Balance Volume for the GDX/GLD ratio which just hit a new short term low suggesting GDX/GLD ratio may weaken more. If GDX/GLD ratio weakens so should GDX. A pull back for GDX is still possible short term. Timer Digest has us ranked #1 in performance for gold over the last 12 months. Sold GDX at 24.33 on 2/22/17 = gain 20.15%; Long GDX on 12/28/16 at 20.25.
http://www.talkmarkets.com/content/us-markets/gdx-rally-may-fail?post=129186
• DiscoverGold
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Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
• DiscoverGold
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