If you would like an email sent to you when I update the blog please send an email with "subscribe" in the subject line to traderbob58@gmail.com. To be removed use "unsubscribe".

Search This Blog or Web

Trend table status

Trend

SP-500

R2000

COMPX

Primary

Up 7/31/20

?- 3/31/20

Up 5/29/20

Intermediate

Up 10/2/20

Up 8/21/20

Up 10/9/20

Sub-Intermediate

Up 10/15/20

? 10/21/20

Up 10/13/20

Short term

? 10/19/20

? 10/19/20

? 10/19/20


Don Worden of Worden Brothers (makers of Telechart software) used to keep a trend table before his health issues got in the way. I always found it useful. Mine is slightly different. Hopefully helpful. Up? or Dn? means loss of momentum. ? by itself means trend is neutral. ?+ or ?- means trend is neutral with bias of up(+) or down (-)

Wednesday, March 2, 2016

GLD and GDX 3/2

Both GLD and GDX have had great runs since I wrote about great looking bear market ending bottoms in these ETFs in GLD and GDX 1/26.  Lets see where things stand now with the monthly charts.


GLD closed above its 20 SMA on a big surge in volume.  That looks pretty good to me.  How about GDX.


GDX also closed above its 20 SMA on a surge in volume.

This is the first time since gold broke down in early 2013 that both closed above their monthly 20 SMAs.  This opens the door to a gold bull market.  As I said in the Jan. post a bull market here does not necessarily mean GLD will make new highs.  GLD could easily rally a year or more and simply retrace part of the losses.  We still need to see some consolidation/pullback to form a higher low.  It would be great if these ETFs could do that and stay above their 200 DMAs.

I have seen some articles on gold, but nothing like I used to see every other time it rallied for a few weeks the last few years.  Everything looks good to me so far.

Bob

No comments:

Important

The information in this blog is provided for educational purposes only and is not to be construed as investment advice.