The earlier and last GDX trade update I'm going to do until it comes to management, was posted earlier this morning, I had captured and uploaded a chart of where I thought a small intraday head fake move would take place as a timing marker for an upside reversal and just as I was writing the post, the move started.
Now the move appears to be over, if you got in to a position on the head fake move then you got an excellent/low risk position. Here's what happened since the last GDX post this morning.
This is the expected GDX head fake move as the smaller base was well formed and mature.
The accumulation in to the move below support is apparent in GDX...
Also in the 3x long NUGT
And in the inverse, 3x bear gold miners, DUST as distribution on it's head fake move.
so far, so GREAT!
Is interest rates about to start going up?
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Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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