GOLDBUGS AMEX Goldbugs Index (GOLD)

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The Ord Oracle
By Tim Ord | August 7, 2017

• SPX Monitoring purposes; Neutral
• Monitoring purposes Gold: Short GDX @ 22.20 on 8/7/17
• Long Term Trend monitor purposes: Neutral



The second window up for the bottom is the Up down Volume Percent with a 50 day moving average. Readings above “0” are bullish for GDX and below “0” bearish and its last close came in at -8.55. Notice also it has made a lower low then its July low where GDX is still above its July low suggests GDX could head to its July low. Next window up is the Advance/Decline percent with a 50 day moving average. It too is below “0” and has made a lower low below the July low suggests GDX could be head to it July low (21.00 range or possible lower). The COT report for August 4 showed the Commercials at 143K Short which is bearish for Gold. Short GDX on 8/7/17 at 22.20.

http://www.talkmarkets.com/content/us-markets/a-bearish-setup-may-develop?post=144787

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