GDX

NFTRH Interim Updates

NFTRH; Key ETF Charts

A snapshot of the current daily chart technical status of several ETFs…

GLD is bullish but in the equivalent resistance zone as noted for gold in NFTRH 296.  MACD and RSI positive, with RSI close to over bought.  Key support is at the MA 50 and 200.

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June 26, 2014
NFTRH Interim Updates

NFTRH; Iraq, the New Ukraine?

From Bloomberg:

“U.S. stocks retreated, with the Standard & Poor’s 500 Index falling a third day, as airline stocks tumbled after escalating violence in Iraq pushed oil prices higher while data on retail sales and jobs missed estimates.”

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June 12, 2014
NFTRH Interim Updates

NFTRH; Key ETF Charts

Key ETF charts are a snapshot to current technicals, not comprehensive technical analysis.

GLD bumped above the lower end of resistance yesterday and is support for any continuing S/T rally activity.  The big test is in the 123 to 125 area and the nose of the former Symmetrical Triangle.

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June 11, 2014
NFTRH Interim Updates

NFTRH; Key ETF Charts

ETF daily charts are a snapshot of current technicals, not a comprehensive technical review.

GLD has lost support after spilling out of the Symmetrical Triangle.  Last week it was at the 62% Fib retrace and this week that is in the rear view window.  Still bearish.

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June 4, 2014
NFTRH Interim Updates

Update; Clear Objectives for GDX, GDXJ

GDX held neckline support after spiking below the bear flag’s origin point and is filling the downside gap off of the bear flag breakdown.  If this rebound is more than a fleeting thing it will get through the SMA 200 (red) and eventually make a higher high above the early April bear flag top.

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April 23, 2014
NFTRH Interim Updates

Update; Key ETF Charts

A reminder that ETF charts are more a snapshot to current status than comprehensive TA.  Also, to save time the MACD (which is usually noted as green (positive) or red (negative) will be colored blue in ETF updates going forward.  The relevant point to the color coding is whether MACD is above or below zero.  Also, RSI is added and the charts have a new format.

GLD broke down from an unimpressive short term uptrend (low relative ‘up’ volume), keeping the long anticipated support zone in play.  That support zone is quite important.  GLD is neutral-bearish, but with a potentially bullish pattern.

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April 16, 2014
NFTRH Interim Updates

Update: Key ETF Charts

Key ETFs offer a technical snapshot each week, but are not comprehensive technical analysis.

GLD is right at the resistance we noted last week.  The chart is neutral and would become positive with a rise above resistance (and the moving averages) and a MACD up trigger.  Obviously, a failure here would put a bear signal on.

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April 9, 2014
NFTRH Interim Updates

NFTRH Update, Precious Metals End of Day Snapshot

The 10 vs. 2 year yield spread dropped, which was an in-day negative not to be given undue weight based on one day, but to be respected none the less.  Interestingly, the sector went nowhere (GDX) to down (GDXJ, gold, silver) yesterday as the spread popped.  Today spread down, sector up.

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April 2, 2014