Gold Miners ETF (GDX)

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The Ord Oracle: GDX Update
By: Tim Ord | September 27, 2023

SPX Monitoring Purposes: Short SPX on 9/1/23 at 4515.77; cover short 9/5/23 at 4496.83 = gain .43%.

Gain since 12/20/22: 15.93%.

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



We updated this chart from last Thursday, which is the Bullish percent index for the Gold Miners index/GDX ratio. Last Thursday's chart took this ratio back to mid-2016; the above chart goes back to 2009. The top window is the 28-period RSI, and the next window down is the Bullish Percent index for the Gold Minders index/GDX ratio. A bottom is in for GDX when the RSI of this ratio trades below 30 and than closes above 30. The blue and red lines on the chart above are previous signals. There were 18 signals generated with two failures (noted with red lines), which works out to a 89% success rate. We could see a "back and forth" period, but the chart above has a 89% success rate.

Tim Ord,

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