Gold Miners ETF (GDX)

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The Ord Oracle
By: Tim Ord | September 5, 2018

SPX Monitoring purposes; Long SPX on 8/31/18 at 2901.52.
Monitoring purposes GOLD: Long 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.



The weekly Inflation/Deflation ratio (updated to last Friday’s close) produced a weekly RSI less than 30 (closed 28.32) and the weekly Slow Stochastic less than 20 (closed 7.67) along with this ratio closing below it lower Bollinger band which suggests the market has hit capitulation. The COT commercials for Gold with a short position of only -1685 hit on August 21 suggest gold at a major low. The last time Gold Commercials where this low (-2915) came on November 30, 2015 which was a major low. Long GDX at 18.72 on 8/17/18.

Tim Ord,
Editor

https://stockcharts.com/articles/tac/2018/09/tim-ord-the-ord-oracle-september-5-2018.html

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