Gold Miners ETF (GDX)

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The Ord Oracle: GDX Update
By: Tim Ord | April 12, 2023

SPX Monitoring Purposes: Long SPX on 2/6/23 at 4110.98.

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

Long Term SPX Monitor Purposes: Neutral.



We previously posted this chart, which is now updated to today's trading. Above is the weekly GDX chart, along with the weekly Cumulative GDX Up Down volume percent (bottom window), and the next higher window is the weekly cumulative GDX Advance/Decline percent. This setup works well on the bigger timeframe. We put Bollinger Bands on both GDX indicators. When both indicators close above their mid Bollinger Band, a buy signal is triggered (noted with the blue line) and when both indicators close below their mid Bollinger Band, a sell signal is triggered (noted with red line). We noted the time between the signals in the middle window, and all lasted at least 1 ½ years. The current buy signal was triggered in March of this year, and adding 1 ½ years to the current signal will give a time for the next high in September 2024, but could be extended for many months as this is the least amount of time expected.

Tim Ord,

Editor

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