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SPX Monitoring purposes: Flat.
Monitoring purposes GOLD: Long GDX on 1/29/19 at 21.96.
Long Term Trend SPX monitor purposes: Sold long-term SPX on 10/24/19 at 3010.29=gain 1.49%; Long SPX on 10/14/19 at 2966.15.
This is a very simple chart that looks at the bigger picture for the GDX market and what may unfold in the coming weeks. The top window is the monthly 6-period moving average of the Bullish Percent index for the Gold miners. When the monthly 6-period MA is above 40%, the directions for the Gold Miners index (along with GDX) is bullish. The current reading stands at 72% (meaning 72% of the stocks in the Gold miners index are on Point and Figure buy signals). GDX has been consolidating since the September high and the Bullish Percent index has actually moved higher, showing that the Gold Miners index (GDX) is getting stronger (more stocks on buy signals). This is more evidence that, once the consolidation ends for GDX, the impulse wave that proceeds a consolidation will be up. Long GDX on 1/29/19 at 21.97.
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