Replies to post #38667 on GOLDBUGS AMEX Goldbugs Index (GOLD)

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~~~ The Ord Oracle ~~~
By: Tim Ord | November 22, 2017

• SPX Monitoring purposes; Sold SPX on 11/17/17 at 2578.85 = gain of .55%; long 11/15/17 at 2564.62
• Monitoring purposes GOLD: Short GDX on 11/13/17 at 22.56
• Long Term Trend monitor purposes: Neutral.



Both the GDX and GDX/GLD ratio Bollinger Bands are pinching and a large move in both is not far away. Today’s rally in GDX matched its previous high of early November. Showing that GDX is stronger than GDX/GLD ratio, means that we have a bearish sign on the short-term. Both Up-Down Volume and Advance/Decline indicators are below “0” (second and third window up from bottom) and are not confirming the short-term bounce in GDX. A possible pull back in GDX is still in the cards. The next low in GDX could develop into a longer-term buy-signal. To help identify the next low, GDX/GLD ratio should lead GDX in performance and that is something I will be watching for. Short GDX on 11/13/17 at 22.56.

http://www.talkmarkets.com/content/us-markets/yesterdays-rally-broke-above-the-recent-highs?post=157376

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