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GDX Made A Higher Low
By Tim Ord | June 13, 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: neutral.
• Long Term Trend monitor purposes: Neutral.



The Advance/Decline percent and Up down volume percent indictors broke to new recent lows as GDX made a higher low, suggesting at some point GDX will break its previous low (which comes in near 22.00 range) (in blue). There is also another divergence where GDX made a higher high in early June and both Advance/Decline percent and Up down Volume Percent made lower highs (in red on chart). These divergences suggest at best GDX will work sideways and at worst work lower. The top window is the RSI for GDX. Readings above 50 are bullish for GDX and below 50 bearish. The RSI has be hovering near 50 since mid May and at the moment not give a direction for GDX. The RSI is giving a neutral reading. Will keep our powder dry for now.

http://www.talkmarkets.com/content/us-markets/gdx-made-a-higher-low?post=138633

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