GOLDBUGS AMEX Goldbugs Index (GOLD)

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The Ord Oracle
By: Tim Ord | April 3, 2019

SPX Monitoring purposes; Sold SPX 3/28/19 & 2815.44= gain .61%; Long 2798.36 & 3/25/19.
Monitoring purposes GOLD: Long GDX on 1/29/19 at 21.96.
Long Term Trend SPX monitor purposes; Long SPX on 10-19-18 at 2767.78.



The second window up from the bottom is the Up Down volume with a 50-period moving average. This indicator helps to identify bullish and bearish volume energy for GDX. We have pointed out two bearish patterns in 2014 and 2016 (red boxes) where GDX made higher highs and 50-MA of Up Down volume made lower highs. We have a bullish long term divergence setup now where 50-MA of Up Down volume has made higher highs while GDX matched its previous high, suggesting that, at some point, GDX will move to higher highs. The next window up is the 50-day moving average of the Advance/Decline for GDX, which helps identify advance/decline bullish and bearish setups. This long term indicator also has made a higher high, suggesting that at some point GDX will make higher highs. Higher prices in the intermediate term is expected, but, short-term, a pullback to support near 21.00 is possible. Long GDX on 1/29/19 at 21.97.

Tim Ord,
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