Followers | 689 |
Posts | 143817 |
Boards Moderated | 35 |
Alias Born | 03/10/2004 |
Wednesday, May 24, 2017 8:08:42 AM
By Tim Ord | May 23, 2017
• SPX Monitoring purposes; Sold long SPX 5/23/17 at 2398.42 = +1.76%; Long SPX 5/17/17 at 2357.03.
• Monitoring purposes Gold: Short GDX on 5/22/17 at 23.20.
• Long Term Trend monitor purposes: Neutral.
Above is the weekly chart of GDX. Bottom window is the weekly GDXGLD ratio. GDX/GLD ratio leads the way for GDX. The weekly GDX/GLD ratio retraced near 90% of the rally form the December low, where GDX just retraced 61.8% showing that GDX/GLD ratio is weaker than GDX. This condition suggests for GDX to catch up to GDX/GLD ratio, GDX must fall. The second window from the top is the weekly RSI for GDX. RSI >50 is bullish for GDX and < 50 bearish. In general the weekly RSI has been below 50 since February and remains bearish. Notice that the weekly Slow Stochastics is also below 50 and in bearish territory. Short GDX on 5/22/17 at 23.20.
http://www.talkmarkets.com/content/us-markets/gdxgld-ratio-leads-the-way-for-gdx?post=136269
• DiscoverGold
Click on "In reply to", for Authors past commentaries
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
Recent GDX News
- YieldMax GDXY Name Change • GlobeNewswire Inc. • 01/25/2024 04:22:00 PM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM