Gold Miners ETF (GDX)

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The Ord Oracle
By: Tim Ord | December 4, 2019

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SPX Monitoring Purposes: Flat.

Monitoring Purposes GOLD: Long GDX on 1/29/19 at 21.96.

Long Term Trend SPX Monitor Purposes: Sold long term SPX on 10/24/19 at 3010.29=gain 1.49%; Long SPX on 10/14/19 at 2966.15.



We've updated this chart from yesterday. The bottom window is the Bollinger Bandwidth for GDX. When the Bollinger Band narrows, the Bollinger Bandwidth goes to a low level. The current low reading in the Bollinger Bandwidth (bottom window) is near levels where previous impulse wave began. A narrowing of the Bollinger Band suggests an impulse wave is about to begin. Today’s gain in GDX suggests the possibility of an impulse rally beginning. Also, notice that, over the last month, GDX has made lower lows as Bullish Percent index for the Gold Miners has made higher lows, showing that more stocks are on Point and Figure buy signals even though GDX made lower lows, which is a bullish divergence. Long GDX on 1/29/19 at 21.97.

Tim Ord,

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