A Rebound Should Begin Next Week
The percentage of GDXJ stocks above the 200-DMA hit 6% Friday. Breadth is fully oversold on all time frames. The vertical lines show similar breadth readings.
The rebounds in 2022 that led to lower lows but soon a significant bottom reached the 50-DMA, which currently is at 117. GDXJ closed at 95 after reaching the summer lows, an area of strong support.
GDX still has 9% downside to its summer lows. Its breadth indicators are not quite at full extremes but are very close. 10% of GDX stocks closed above the 200-DMA.
Below shows the percentage of GDX stocks that have a rising 200-DMA. Its 10% now. Many readings at 10% or lower led to significant lows.
These two breadth indicators c/o StockCharts are not yet at full extremes.
Metals closed at $3874 and $49, after losing support at $4000 and $54.
Gold has strong retracement support at $3600-$3700. We have noted $45-$47 for Silver.
I don’t think we are at “the bottom” yet, but a rebound is likely to begin within a few days. (Note, individual stocks can and will bottom at different points).
Fundamentally, the market is still anticipating two more hikes. Gold could sustain a rebound when the market senses the next rate hike is the last.
Source: https://thedailygold.com/a-rebound-should-begin-next-week/
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
LION'S MANE PRODUCT
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.
| Visits: | 1,836,788,236 |
| Stories: | 8,730,120 |
Whistler Blowers, Insiders
