Protected: NFTRH+; A new (old) indicator, using GDX as an example
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Tag: GDX
NFTRH+; Contrary to today’s CPI…
CPI came out and it was a humdinger! Okay, that hype aside, the play is for a top in inflation hysteria and while the signals have been waning for well over a month now, the public is treated to another big inflation headline. With respect to yesterday’s update and the add-on posted just after, it looks like today is a reversal day of some kind. … Continue reading NFTRH+; Contrary to today’s CPI…
NFTRH+; interesting weekly gold miner charts
As you know, the daily charts are in gross looking patterns, having failed to hold support. HUI has filled its ‘212 gap’ and also has a gap way down at 107 from the January 2016 launch. Indeed, HUI is technically questionable on the weekly chart as well, but it is getting oversold and a channel bottom parallel to the 2020 and 2022 highs indicates a … Continue reading NFTRH+; interesting weekly gold miner charts
NFTRH+; GDX
I’ll take a subscriber comment from the previous update and apply the view to GDX as opposed to HUI in line with that subscriber’s prompt. I know plenty of people trade GDX, so I’ll try to sprinkle it in more along with HUI. What we’d look for to begin to call GDX a false breakdown in preparation for a potentially strong rally (off of improving … Continue reading NFTRH+; GDX
NFTRH+; Bear flag breakdown
The daily chart of GDX shows a bear flag (wedge) breaking down after it failed to take out the daily chart’s SMA 200. This could be in prep for a test of the low, considering how the flag bounce came from oversold conditions (BPGDM) and over-bearish sentiment and silver’s contrary positive CoT situation. But as also noted to this point, the sector and macro fundamentals … Continue reading NFTRH+; Bear flag breakdown
Precious metals ‘vs. SPY’
Gold, silver and the miners in relation to SPY/SPX We all know that gold and its fellows have bottomed (minor or major)* vs. broad stock markets, and below is a daily chart pictorial view showing the impulsive bursts upward off the lows (relative to SPY) by gold, silver and the miners. The caveat is the shirtless man on the Ukraine border, associated media ‘war drums’ … Continue reading Precious metals ‘vs. SPY’
NFTRH+ GDX micromanagement working well so far
Just a not so subtle reminder that the NFTRH service includes in-week updates, some of which are macro-oriented and some of which are micro-oriented like this now-public update about the short-term situation in the gold miner ETF. Near-term plan for GDX Here is the chart from the update, as of this morning. Gap filled and support being tested. Now, I am not touting because I … Continue reading NFTRH+ GDX micromanagement working well so far
NFTRH+; Near-term plan for GDX
Here is a theoretical plan for GDX. At least it is my rough operating guide for the near-term, subject to change as always. The Inverted H&S that everybody in the gold “community” saw (and some touted) rallied GDX to fill the August gap down and is losing its neckline today. That is fine and does not compromise a near-term bounce/bull case. Recall months ago in … Continue reading NFTRH+; Near-term plan for GDX
NFTRH+; Gap fills
For you gold stock sports fans, per 15 minute charts… GDX and GDXJ are each filling the opening gap up. This is no comment about micromanaging a resumed rally (nothing has changed per the previous update) other than the miners generally bounced post-FOMC from the 50 day averages, as we allowed for, even anticipated. But it is a comment that should rally continuation be in … Continue reading NFTRH+; Gap fills
NFTRH+; Gold stocks, pre-FOMC
Using fresh, un-marked charts for simplicity… It’s right on cue, pre-FOMC. HUI is testing the 50 day average as expected. I make no remarks about bullish or bearish or the would-be bullish Inverted H&S that may be forming, but I do note that Huey is doing what we’d asked of it. It is better for the gold stocks to be bowing before the great and … Continue reading NFTRH+; Gold stocks, pre-FOMC
Inflationist gold/gold stock boosters foiled again on ‘Flation Friday [w/ edit]
[edit] Of course, every big buy in gold is a “whale purchase” or some other legit sounding thing while every big dump is a “paper sale!” to manipulate the price down. You see don’t you? You see that there is a cult of ideology out there that has less experienced people in tow subscribing to an ‘us against them’ method of investing that can only … Continue reading Inflationist gold/gold stock boosters foiled again on ‘Flation Friday [w/ edit]
GDX 15 min & daily technical status
GDX dumped the 15 min. support area around 32.25 but is making a hint to whipsaw back above it. Classic shakeout? In doing this it is making a would-be hammer candle that is testing the top of the long-term support area that the bounce began at. Here is a longer view showing that support. The bounce is intact as of now. Twitter displayed some serious … Continue reading GDX 15 min & daily technical status
NFTRH+; Gap fill
Super simple. GDX is fillling last week’s gap up per the 15 minute chart (GDXJ is similar). This area carries lateral support and should hold or the sector bounce would be in trouble. The decline has left an upside gap, which we’d expect to fill before long if the bounce picture holds intact. On the downside, if the bounce fails there’s a gap down there … Continue reading NFTRH+; Gap fill
NFTRH+; GDX & GDXJ [w/ edit to correct an important typo]
[w/ corrective edit] Daily and weekly charts of the two gold stock ETFs. GDX daily kissed the SMA 50 and SMA 200 goodbye and then kissed the neckline to a gross looking pattern goodbye. It is getting short-term oversold and a bounce could come at any time. If so, I’d look to the 30+ area [33+] as an objective. Beyond that it’s still a very … Continue reading NFTRH+; GDX & GDXJ [w/ edit to correct an important typo]