SPX Monitoring purposes; Neutral Monitoring purposes GOLD: Long GDX at 18.72 on 8/17/18 Long Term Trend SPX monitor purposes; Sold long term SPX 7/16/18 at 2798.43= gain 2.95%; Long 6/29/18 at 2718.37.
We posted this chart about a month ago. What it is is the RSI of the Bullish Percent Index. The Bullish Percent Index measures the percent of stocks in the Gold Miners Index that are on Point & Figure buy signals. Worthwhile lows have formed when the RSI of the Bullish Percent Index reaches below 10. This chart goes back to mid-2007 and shows the times when the RSI<10, which were seven times (not counting the current time) and six (87%) saw at least a short term low. The Gold commercials came in at +1615 last reported on Friday. The last time Gold Commercials were near these levels was back on November 2015, that last major low in gold. W. Long GDX at 18.72 on 8/17/18.
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