Gold and Gold miners - Strength or weakness?

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I will post a very interesting chart.
Gold             miners seem to be giving up the rally. In the past when SLowSToch and RSI got oversold it was the sign of the daily cycle low.
I think this will be the same. As today we broke out of the Bollinger Bands I have to say we are very close. Volume is supporting us : we will have a bounce tomorrow or Thursday.
In the last half year during the initial phase of the miner bull rally we broke out only once of the Bollinger Bands: at the last ICL (25.05.2016.)

50 EMA was supporting the rally all the way up. Today we are at the 50 EMA .

We are talking about gold             as a weak vehicle now. But if we are watching how gold             was moving together with GDX             in the last half year we have to say now that gold             is not following the miners in this dip.
It's not weakness, it shows strength.
If miners are bouncing tomorrow or Thursday we will get our gold             pop also.

I'm buying GDX             , GDXJ             up to 20% margin impact.
Comment: We had a big contract dump today at 7:40 EST in gold.
Miners will open with a GAP.
If we fill the gap immediately after the open someone just pushed down gold's price to get a better entry price for the miners today.
Comment: GDX is out of Bollinger Bands.
This will not last for too long. We are bouncing soon.
Comment: Buying 10% GDX and GDXJ .
Margin impact is moving up from 20% to 30%.
Price is 28.14 GDX
Comment: 46.13$ GDXJ
Comment: Sea of red. Stocks, oil, gold, miners, Euro.
They are selling everything except NatGas and the Dollar...
My momentum indicators are showing signs of divergence with price action, which is when I normally like to buy. I already have a few shares of JNUG and will buy more tomorrow at the open. Hopefully we'll open with a gap down.. that would be even better in terms of stretching the rubber band.

Remember to focus on the big picture: Gold has a date with $1500 this fall!

saif12 Nightstar
not this year.

I think we are very near the bottom, I'm basing this on regression to the mean work, and nontraditional technical cycle indicators (not calendar cycle indicators)...
I am still long 15oz, but I have hedged it today, it seems to me that the rate hike will be sooner as market is counting in. Tomorrow is Jackson Hole, can I watch it live somewhere ? Thank you !
lbg01 andrej123456
usually will stream the conference
+1 Reply
Thank you, I will check it.