Sell Short GDX at the market, current price $29.48. Use protective buy stop at $30.56 Technometer is dangerously overbought and we would expect resistance in this area.
Categories: Model ETF Portfolio, Trade Updates
Tags: $GDX, Precious Metals
Related Articles
Wyckoff Wave Ready To Rally?
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 Overbought, Let’s Look For Pullback.
The Wyckoff Wave finished the week higher once again as called for on average volume. We was looking for a little higher this week, and…
Wyckoff Wave Bumping Its Head On The Ice
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,…
Wyckoff Wave Back To Resistance
The Wyckoff Wave closed the week sharply higher, on much lower volume. The Technometer is extreme overbought. We closed strongly higher Wednesday/Thursday/Friday to end the…
Wyckoff Wave Consolidate This Week?
The Wyckoff Wave has rallied into previous resistance with an overbought Technometer. I would expect a rest here, and the Technometer to cool off, before…