Investing in Gold miners (GDX) has been a big winner this year. So far 150% in a non-leveraged ETF. But it is always good to keep evaluating the trend. We can look at the pluses and minuses on the Gold trade currently. Let us roll through the different charts.
First of all, on GDX, the SCTR has been glued to the top. We can see it looks exceptional. In the next pane is the relative strength compared to the $SPX. The trend is still up, but recently the GDX and the $SPX have been moving sideways for a month as the early July and Early August peaks are at the same levels.
The price panel shows a defined uptrend that made a higher high this morning and closed back in the range. The MACD is going to break either trend line shortly. For the volume, I want to zoom in on the last 6 months.