Replies to post #1946 on Gold Miners ETF (GDX)

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The Ord Oracle
By: Tim Ord | January 30, 2019

SPX Monitoring purposes; Neutral.
Monitoring purposes GOLD: Long GDX on 1/29/19 at 21.96.
Long Term Trend SPX monitor purposes; Long SPX on 10-19-18 at 2767.78



The FOMC meeting is today and tomorrow with the announcement at 2:00 Wednesday. Above is the monthly chart of GDX. The month of January ends on Thursday (two days away). A monthly RSI close above 50 (current reading is 51.93) is a bullish longer-term signal. The middle window is the monthly GDX with the moving averages of 3, 9 and 11. When all three cross (in this case, cross to the upside) a bullish longer-term signal is triggered. A close below 20.50 could change these bullish signals back to neutral on Thursday. GDX has been up five months in a row (strength follows strength) and suggests further strength to come. If the market pulls back to 20.50 on Thursday, then we will have to reconsider the bullish picture. Long GDX on 1/29/19 at 21.97.

Tim Ord,
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