SPX Monitoring purposes; Neutral. Monitoring purposes GOLD: Long GDX at 18.72 on 8/17/18 Long Term Trend SPX monitor purposes; Covered short SPX on 10/10/18 at 2785.68= gain of 3.46%; Short long term on 10/5/18 at 2885.57.
The Bottom window is the 18 moving average of the Advance/Decline. Readings >0 are bullish and below “0” bearish; today’s reading comes in at +3.52. The next window up is the 10 moving average of the Up Down volume - again, readings above “0” are bullish and below bearish - today’s reading came in at +1.54. These two indicators suggests the uptrend is intact. The pattern that appears to have formed is a Head and Shoulders bottom which has a measured target to 21.25 range. The Gold Commercials are now long 26K gold contracts, which is an unusual bullish position for them over the years and another bullish sign for gold. Long GDX at 18.72 on 8/17/18.
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