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Re: DiscoverGold post# 2101

Wednesday, 05/22/2019 11:29:59 PM

Wednesday, May 22, 2019 11:29:59 PM

Post# of 5498
The Ord Oracle
By: Tim Ord | May 22, 2019

SPX Monitoring purposes: Neutral
Monitoring purposes GOLD: Long GDX on 1/29/19 at 21.96.
Long Term Trend SPX monitor purposes: Sold long SPX on 5/6/19 at 2932.61= gain 5.96%



The second window down from the top is the Bullish Percent index for the Gold Miners index. The bullish percent index measures the percentage of stocks in the index that are on Point & Figure buy signals (currently at 26.92%). It has been a bullish sign for the Gold Miners index when the RSI for this index falls below 10% (current reading is 5.40%). We have marked these instances with vertical lines. The chart above goes back over 11 years and eight instances where recorded; of those eight, seven marked intermediate-term lows, meaning they were marked 87.5% of the time. It would seem that a fast-falling bullish percent index would be a bearish event, but it appears to be the opposite. Long GDX on 1/29/19 at 21.97.

Tim Ord,
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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!
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