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GDX Buy signal probability increasing
The probability to get an intraday buy signal is increasing. Once we have an intraday buy, the system will wait for a confirmed buy before entering the trade. The buy signal will be confirmed when the expectation not to have an intraday reversal is higher than 80%.
Note that the environment is "strong" for today.
Pascal
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PctB averages flattening and turning up
Hi,
I have been tracking the PctB moving averages on GDX since mid-December and they appear to be supporting Pascal's points, I believe. (refer to the thread in Trading Models for more on Pct B).
In the attachment below, PctB is now on the upper side of the very long term moving averages (i.e., 5 of the last 7 data points are above the long term averages, and the 2 low data points supported by 20, 34 and 55 period averages which have now pinched and are heading upward) and also well above the long-term trend line that started last Feb-March.
Although all PctB moving averages have not pinched yet, they seem to be headed in that direction. Time will tell of course, and anything can happen, but the current direction seems to be positive.
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