Gold and Gold Miners at the top
Ranking the indexes using relative strength of a Fixed Rate of Return of 20% annualized growth rate, over a 200 day moving average.
Trend following stock indexes ranked 8_09_2019
Category: Gold
spot gold index
Trend following Gold update
gold trend continues
This is pure trend following. After a major breakout, we are next looking at Gold (GC) S/R (Support and Resistance Price Reversals) to indicate a continuation of the Bull run. Gold, on a long term basis, has been outperforming the S&P 500 Index since early May.
So next, have two S/Rs to look at. One is a relatively minor Weekly S/R, and, then a Major Monthly S/R. These two levels are $1,434 and %1,529.
1: Stock Chart of the gold S/R at $1,434:
2: Stock chart of the gold S/R at $1.528:
Gold trend following
Looking at the Weeklies going back 7 years, there is a major S/R (Support and Resistance Price reversal) at $1,365. We can see on the chart, each time it hits that price level it sells off. This is Bullish if it closes over on a Weekly and Monthly.
Gold chart:
Gold Mining Index – testing support, again
So this thing certainly is not on the Bullish Trend List.
Trend following the sell-off, The Gold Miners Index $GDM $GDX is testing another S/R (Support and Resistance Price Level) at $576.60. So this thing certainly is not on the Bullish Trend List. When it returns to a trend in excess of, or at a minimum of, 10% annualized over 200 days ma, it’ll be back on the Upward Trend List. This index is one of 20 we monitor.
Market Chart 63 day, daily:
Spot Gold
gold losing momentum
Spot Gold (GC) (GLD) today, trading at $1,276, is under trend of 5% annualized growth rate over 200 days, and, under major S/R (Support and Resistance Price Levels), both March Monthly and Weekly. S/R is $1,281 on this chart.
Trend following – no predictions, no forecasts.
Gold trend following analysis
gold in low momentum trend
Spot Gold (GC) testing last Month’s S/R (Support and Resistance Price levels) at $1,281.
And testing last Week’s S/R at $1,285.
The Long term trend is Upward at or exceeding a 5% annualized growth over 200 days ma. (Low momentum).
The Relative Strength vs. The S&P 500 Index has turned negative, over a 200 day ma. The confidence in the private sector (US equities), by investors, is trending higher.
Spot Gold breaks Weekly Reversal
Gold $GC $GLD at $1,299 closed the week under a Weekly Bearish Reversal of $1,305. #gold #trendfollowing #investing
and the Weekly Bullish S/R Price level at $1,366 remains a challenge.
