Since the 10%+ quick rally we had in GDX, we have now experienced a high level consolidation. During this time the Technometer has went from extreme overbought to now oversold as shown by the green arrow. We like this action.
Therefore, we are recommending to add to longs. We are adding on one half of our current position at the market.
Current Price: $22.12 On this addition we would use a sell stop at $21.35
Click Here For Wyckoff Wave Chart 06-27-11 Our last post ended with the Wyckoff Wave at point Y. The Wave was in an overbought position…
The Wyckoff Wave was down for the week. Volume decreased slightly again. The O-P was down for the week. The Force Index was down for…
The Wyckoff Wave closed the week down sharply, on low volume. For the last week and a half, the Wave had met resistance at its…
The Wyckoff Wave closed the week only slightly higher, on low volume. We had expected the Wave to meet resistance at the previous support area,…
The Wyckoff Wave was down slightly for the week. Volume is still at low levels. The O-P was up for the week. The Force Index…
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