Replies to post #1902 on Gold Miners ETF (GDX)

[DiscoverGold]

The Ord Oracle
By: Tim Ord | January 16, 2019

SPX Monitoring purposes; Neutral.
Monitoring purposes GOLD: sold 11/27/18 at 18.88=gain .075%; Long GDX at 18.72 on 8/17/18
Long Term Trend SPX monitor purposes; Long SPX on 10-19-18 at 2767.78



Above is the daily Inflation/Deflation ratio and above that window is the daily XAU. The daily Inflation/Deflation ratio leads the way for the XAU (GDX). The Inflation/Deflation ratio updates later after the close and the price shown above is yesterday’s close, which showed a large move down. Today the XAU followed and closed lower. The bottom window is the XAU/Gold ratio, which also usually leads the XAU; today it closed below its December low, suggesting that, at some point XAU, will close below its December low (62.00 range). In conclusion, the intermediate term for XAU remains bullish, but the short term picture (next several weeks) shows a bearish slant. Ideal time for a gold and gold stock bottom is around January 22 (next Tuesday), but that can change. Not sure if the pullback will test the September low, but it could. This potential pullback could lead to a longer bullish setup. We will wait for the next bullish setup.

Tim Ord,
Editor

Read Full Story »»»

• DiscoverGold

Click on "In reply to", for Authors past commentaries