Here are ONE DOZEN negatives I see in-GDX, and why I feel this-ETF is a sell: 1. Sell Fractal in effect (red rectangle on chart). 2. Alligator jaws opened in tandem with sell Fractals. Alligator feeding in down-trend. THIS IS YOUR DIRECTIONAL COMPASS. 3. Chop indicator (under chart) is well above the 38.2 shaded area. This indicates a ZERO trend and, at best, sloppy action with a downward bias. 4. Phase energy (lower top indicator) is below the zero line. 5. DMI-top indicator-is bearish. 6. Prices are trading UNDER the Ichimoku Cloud . This is a sell signal. 8. Prices are trading below the Ki jun-Sen baseline of the Ichimoku Cloud . This is a sell signal. 9. Prices are trading below the thick red Ichimoku Cloud conversion line. This is a sell signal. 9. The red Ichimoku Cloud conversion line direction is heading lower. This is a sell signal. 10. The Ki jun-Sen baseline of the Ichimoku Cloud direction is heading lower. This is a sell signal. 11. The CHOP ZONE indicator (under chart) is red, indicating a down trend. 12. The middle top indicator is a forward projection as follows: For an estimation of possible FORWARD TRENDING I use the Ichimoku Cloud Senkou Span A (Leading Span A): (Conversion Line + Base Line)/2)). This is the midpoint between the Conversion Line and the Base Line. The Leading Span A forms one of the two Cloud boundaries. It is referred to as "Leading" because it is plotted 26 periods in the future and forms the faster Cloud boundary. I then make an oscillator out of this and plot the progress up and down around a “zero line”. Currently the forward projection is VERY WEAK. I HAVE THE RESULTS OF THESE CALCULATIONS FOR-GDX IN THE TOP MIDDLE INDICATOR. IT IS VERY NEGATIVE.
Based on the above 12 indicators, I feel GDX-is heading lower. Good luck to you in your trades. Don.
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As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.