Tuesday, July 27, 2010

The Calvary is on the Way

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It's 10 minutes before the market closes this crushing day of the gold bulls.  But the Calvary is on the way!  Hear the trumpets and the thousands of horses off in the distance, and now within sight.
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The is a 60 minute chart of GDX.  The True Strength Index indicator has broken out, as well as the Money Flow Index indicator.  
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Find July 19/20 on the chart and you can see what could be in store for us tomorrow.
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Alternatively, if we do not basically go straight up tomorrow (as July 19/20) then we will trade a little lower than today, creating a divergence of the indicator being higher and price lower, THEN we will (should have) bottomed.
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Now why did Santa come a day early, that's what I want to know?
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Click on the chart to ENLARGE

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