• SPX Monitoring purposes; Long SPX on 5/21/18 at 2733.01. • Monitoring purposes Gold: neutral • Long Term Trend SPX monitor purposes: Long SPX 3/14/18 at 2749.48.
Yesterday we presented the weekly Gold Miners index, which showed bullish intermediate term indicators and showed that when the short term pictures turns back to bullish it could lead to an extended move to the upside. Today we are back looking at the short term picture. Above is the cumulative Up Down Volume and cumulative Advance/Decline. When these two indicators fall below their mid Bollinger® bands, it triggers a short term sell signal (which was triggered a few days ago). Until the cumulative Up Down volume and Advance/Decline turn back above their mid Bollinger bands the sell signal will remain in force. At some point in the future, it will flip to a buy signal and that signal could lead to a large move.
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