Gold Miners ETF (GDX)

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The Ord Oracle
By: Tim Ord | November 14, 2018

» SPX Monitoring purposes; Long SPX on 10/22/18 at 2755.88.
» Monitoring purposes GOLD: Long GDX at 18.72 on 8/17/18
» Long Term Trend SPX monitor purposes; Long SPX on 10-19-18 at 2767.78



We are looking for signs that a rally that began back in September may continue, as a longer term weekly divergence is present between the Inflation/Deflation ratio and XAU. The XAU is testing its September low now and the Inflation/Deflation ratio is also; so far there is no positive or negative divergence and not giving a clue what may come nest. We are looking for a low shortly in the SPX, and if the XAU (GDX) bottoms along with the SPX and both rally together, it will be a bullish sign for the XAU (GDX). However, if the XAU (GDX) fails to rally with the SPX, it will be a bearish sign and we may sell our long GDX position. Long GDX at 18.72 on 8/17/18.

Tim Ord,
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