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Thursday, August 23, 2018 11:38:40 AM
By: Tim Ord | August 22, 2018
• SPX Monitoring purposes; Sold 8/21/1/ at 2862.96= gain 1.05%; Long SPX 8/10/18 at 2833.28.
• Monitoring purposes Gold: Long VanEck Vectors Gold Miners (NYSE:GDX) at 18.72 on 8/17/18
• Long-Term Trend SPX monitor purposes; Sold long term SPX 7/16/18 at 2798.43= gain 2.95%; Long 6/29/18 at 2718.37.
We posted this study yesterday and remains relevant, “The Gold Commercials came in at 7K short updated last Friday, the least short position going back to December 2015 with a short position back then at 3K short; both readings are bullish for gold. The chart above is the RSI for the Bullish Percent index for the Gold Miners index. We have marked the times when the RSI for the Gold Miners index fell below 5% which amounted to seven times going back to 2007. Of those seven times, one failed to mark a low and one when sideways for a number of weeks before a strong rally. The other five times the market rallied right out of the gate. According the 6 wins out of 7 times the market has an 87% chance of at least moving sideways if not going higher.” ord-oracle.com. New Book release "The Secret Science of Price and Volume" by Timothy Ord.
https://www.investing.com/analysis/spx-gold-and-gdx-technicals-82218-200340101
• DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
• DiscoverGold
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