GOLDBUGS AMEX Goldbugs Index (GOLD)

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The Ord Oracle
By: Tim Ord | January 8, 2020

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SPX Monitoring purposes: Sold SPX 12/24/19 at 3223.36-gain 1.72%; Long SPX on 12/13/19 at 3168.80.

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.



The top window is the 10-day average of the Bullish Percent Index for the Gold Miners index. The Bullish Percent Index (BPI) measures the percent of stock in an index that are on Point and Figure buy signals. The 10-day average of the BPI above 40% predicts the index is in a bullish move. The current 10-day average of the BPI for the Gold Miners Index stands at 80.42. The rally in the Gold stocks appears to have further to go. The next resistance for GDM (Gold Miners index) is near 1100, which corresponds to 37.50 range on GDX. Long GDX on 1/29/19 at 21.97.

Tim Ord,

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