SPX Monitoring purposes: Sold long SPX 6/7/19 at 2873.33= gain 4.41%; long 5/31/19 & 2752.06. 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%:
Monthly GLD is eating through the "Price by Volume" levels of 120 to 130 and, once through, should become strong support. A four or greater monthly rise in GLD happen in uptrends. The monthly GLD rose each month from October to January 2019. The monthly RSI for GLD stands at 57; readings above 50 show the market is in an uptrend. The neckline of a potential Head and Shoulders bottom for GLD lies near 128 and will need a "Sign of Strength" to confirm the breakout of the Neckline and why Gold may get stronger near-term. Long GDX on 1/29/19 at 21.97.
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