Gold Miners ETF (GDX)

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The Ord Oracle
By: Tim Ord | November 15, 2017

SPX Monitoring purposes; Neutral
Monitoring purposes GOLD: Short GDX on 11/13/17 at 22.56
Long Term Trend monitor purposes: Neutral.



The top window is the RSI for GDX and it has been < 50 since mid September and remains in bearish territory. Second window up form the bottom is the Up down Volume indicator with a two period moving average. Readings below “0” are bearish and the last reading came in at -42.86. Next window up is the Advance/Decline with a two period moving average and readings below “0” are bearish and the last reading came in at -52.43. The internal are weak for the moment suggests the pull back in GDX should continue. Once the internals start to strengthen again we will cover our short what ever the price may be. The pattern forming could be an ABC down and “B” wave may have finished at last weeks high. The “B” wave a lot of the time market the half way point of the move down which in this case would give a target near 21.00 range. Short GDX on 11/13/17 at 22.56.

Tim Ord,
Editor

http://stockcharts.com/articles/tac/2017/11/tim-ord-the-ord-oracle-november-15-2017.html

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