SPX Monitoring purposes: Neutral Monitoring purposes GOLD: Long GDX on 1/29/19 at 21.96. Long Term Trend SPX monitor purposes: Sold long SPX on 5/6/19 at 2932.61= gain 5.96%
The second window down from the top is the Bullish Percent index for the Gold Miners index. The bullish percent index measures the percentage of stocks in the index that are on Point & Figure buy signals (currently at 26.92%). It has been a bullish sign for the Gold Miners index when the RSI for this index falls below 10% (current reading is 5.40%). We have marked these instances with vertical lines. The chart above goes back over 11 years and eight instances where recorded; of those eight, seven marked intermediate-term lows, meaning they were marked 87.5% of the time. It would seem that a fast-falling bullish percent index would be a bearish event, but it appears to be the opposite. Long GDX on 1/29/19 at 21.97.
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