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Tuesday, October 10, 2017 9:02:50 AM
By: Tim Ord | October 9, 2017
• SPX Monitoring purposes; Short SPX on 8/30/17 at 2457.59.
• Monitoring purposes GOLD: Long GDX on 10/2/17 at 23.05
• Long Term Trend monitor purposes: Neutral.
The Up down Volume percent indicator and the Advance/Decline Percent indicator (second and third windows up form bottom) both making higher highs and a bullish divergence. The bottom window is the GDX/GLD ratio which closed below its previous high as GDX closed about its previous high and a bearish divergence. If this bearish divergence carries on it could stall the GDX rise. We have two possible upside targets which are the September 25 high which is 23.87 (all most there) and the September 20 high of 24.20 which was a high volume day and most high volume days high are tested at some point. If the September 20 high volume day’s high is tested on light volume would suggest resistance and a short term bearish sign. This scenario may change and condition change in the market.. Long GDX on 10/2/17 at 23.05.
http://www.talkmarkets.com/content/us-markets/october-the-uptrend-appears-near-an-end-or-has-ended-for-now?post=152083
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