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The Ord Oracle

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DiscoverGold   Friday, 11/20/20 04:02:58 PM
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The Ord Oracle
By: Tim Ord | November 18, 2020

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SPX Monitoring Purposes: Long SPX 10/22/20 at 3453.49.

Monitoring Purposes GOLD: Long GDX on 10/9/20 at 40.78.

Long Term SPX Monitor Purposes: Long SPX on 10/26/20 at 3400.97



As we said yesterday, "As we pointed out in the past, the Bollinger Bands are pinching on both the weekly GDX and GDX/GLD ratio. The pinching of the Bollinger bands suggests the corrective phase is near an end and an impulse wave is about to begin. Since the Bollinger bands are pinching on a weekly timeframe, the coming impulse wave may last several months (we are thinking rally could last into February). Notice also that GDX is at the low of the candle two weeks ago and GDX/GLD ratio is near the lower third of the candle from two weeks ago, showing GDX/GLD ratio is stronger than GDX. This shows that GDX is stronger than GLD, which is what happens in bull moves for GDX. There was a bump in volume on the rally in GDX two weeks ago, which is also a bullish sign." As in the past, the rally will come when least expected, which should be sooner rather then later according the Bollinger bands pinching. Long GDX on 10/9/20 at 40.78.

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. Caveat emptor!
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