2 Attachment(s)
GDX close to canceling the trade
The negative MF accelerated late in the day yesterday.
If we cross below the dotted cash level, we will turn to cash.
The model will not short because the ATR level is very low.
As we can see below, in the past, bounces in ATR have been experienced when investors were afraid of a pull-back.
I do not believe that investors are afraid of a pull-back. However, the sector is not as "hot" as most other sectors and the type of reversal that we had yesterday is not good at all.
Pascal
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