• SPX Monitoring purposes; Long SPX on 3/24/17 at 2343.98. • Monitoring purposes Gold: Sold GDX at 24.33 on 2/22/07 = gain 20.15%; Long GDX on 12/28/16 at 20.25. • Long Term Trend monitor purposes: Neutral.
So far the GDX/GLD ratio is weaker than GDX and GDX/GLD ratio normally leads the way for GDX and one of the reason GDX may pull back short term. The bottom window is the On Balance Volume for the GDX/GLD ratio which is showing GDX/GLD ratio is in a weak position and may pull back more. The top window is the RSI for the GDX/GLD ratio. When the RSI is > 50 it suggests GDX/GLD ratio is in an uptrend and < 50 a downtrend. Most top form when the RSI reaches the 50 range and turns down. Currently the RSI is near 50 and a push through 50 will be a bullish sign and a failure will be a bearish sign. Today’s GDX/GLD chart still has a bearish slant. The monthly charts for GDX remains bullish. Timer Digest has us ranked #1 in performance for gold over the last 12 months. Sold GDX at 24.33 on 2/22/17 = gain 20.15%; Long GDX on 12/28/16 at 20.25.
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