Gold Miners ETF (GDX)

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A Bounce In GDX Is Possible In The Coming Days
By Tim Ord | July 5, 2017

• SPX Monitoring purposes; Short SPX 6/26/17 at 2439.07.
• Monitoring purposes Gold: Long GDX on 6/22/17 at 22.36
• Long Term Trend monitor purposes: Neutral.



The bottom window is the GDX/GLD ratio which made a higher low as GDX made a lower low compared to the mid June low and a bullish divergence. Next window up is the Up down Volume percent indicator which also made a higher low as GDX made a lower low. Third window up from the bottom is the Advance/Decline Percent indicators which also made a higher low and a bullish divergence. These divergences suggest a bounce in GDX is possible in the coming days, whether the bounce turns into a trending advance, we will have to wait and see. A lot of the time, the timeframes around holidays (yesterday’s July 4) produces reversals in the market. Long GDX on 6/22/17 at 22.36.

http://www.talkmarkets.com/content/us-markets/a-bounce-in-gdx-is-possible-in-the-coming-days?post=141036

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