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Gold and Gold miners - Strength or weakness?

AMEX:GDX   VANECK VECTORS GOLD MINERS ETF
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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!

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saif12 Nightstar
not this year.

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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)...
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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 !
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lbg01 andrej123456
usually Bollomberg.com will stream the conference
+1 Reply
Thank you, I will check it.
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Hi, I just got the fright of my life , nugt shares bought 156 is now 23 and jnug is 22 from 262 bought 5 august, looking on my ipad i do not see a slpit and interactive still got same amount of shares in my account meaning my shares are down 85-90% . Can you advise me what is happening?
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avento investment6300
it was the 1-for-5 reverse split of NUGT (and others leveraged shares) announced in previous month by Direxion:
http://www.direxioninvestments.com/press-release/direxion-announces-reverse-and-forward-share-splits-of-nine-leveraged-etfs

and who is your broker, btw?
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avento investment6300
...sorry me, not reverse, but forward split! Anyway, your balance should not suffer (with honest broker)
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pbartashevich investment6300