GOLDBUGS AMEX Goldbugs Index (GOLD)

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The Ord Oracle
By: Tim Ord | October 14, 2020

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The bottom two windows are the 18 average of the Advance/Decline and 18 average of the Up Down Volume. When both are above "0" (which they are), that is a bullish sign for GDX (the pink-shaded area is when both are below "0", which is a bearish sign.). The next window up is the GDX/GLD ratio and a close above its mid Bollinger Band is a bullish sign. In bullish GDX moves, the GDX/GLD ratio outperforms and leads GDX. Today, GDX/GLD ratio closed above Friday's high, suggesting GDX will break above Friday's short-term. It appears the next impulse wave higher has started and new highs in GDX are possible. Long GDX on 10/9/20 at 40.78.

Tim Ord,

Editor

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