• SPX Monitoring purposes; Long SPX 3/14/18 at 2749.48. • Monitoring purposes GOLD: Short GDX on 3/6/18 at 22.02. • Long-Term Trend SPX monitor purposes: Long SPX 3/14/18 at 2749.48.
On the middle window is the monthly GDX with its Bollinger band and on the window below is the monthly GDX/GLD ratio with its Bollinger band. You can notice that both Bollinger Bands are pinching, which is suggesting that a large move is coming.
Both GDX and GDX/GLD ratio are below the mid Bollinger Band which also has turned down suggesting that a large move is ahead. On the bottom window is the Slow Stochastics for GDX which also has turned down and gives credit to the potential pullback. We have noted in our reports that a pullback in GDX to the December 2016 low (18.50) is a possibility and the monthly chart supports this scenario. With both Bollinger bands pinching, volatility will be picking up in the coming weeks. Short GDX on 3/6/18 at 22.02.
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