GOLDBUGS AMEX Goldbugs Index (GOLD)

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The Ord Oracle
By Tim Ord

* January 18, 2017

Market Appears To Be Waiting For Something

• SPX Monitoring purposes; Covered 12/30/16 at 2238.83= gain .46%; Short on 12/29/16 at 2249.26.
• Monitoring purposes Gold: Long GDX on 12/28/16 at 20.25.
• Long Term Trend monitor purposes: Short SPX on 1/13/16 at 1890.28




The chart above is the daily Bullish percent index for the Gold Miners index. The Bullish Percent index measures the percent of stocks in the Gold Miners index that are on Point and Figure buy signals. As of last Friday’s close the percent of stocks in the Gold Miners index that are on Point and Figure buy signals stood at 46.43 up from Thursday’s reading of 42.86%, showing this index is getting stronger. At the end of December (just two weeks ago) that percentage stood near 10%. This condition shows that buyers are reentering this market and a change of character from the August high where sellers where the dominate force going into the November low. In general GDX should continue to move higher, possible for the next several months. Long GDX on 12/28/16 at 20.25.

http://www.talkmarkets.com/content/us-markets/market-appears-to-be-waiting-for-something?post=119076

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