[isatrader]

Hi,
Can someone please let me know whether GLD and GDX are in stage 2 and simply experiencing normal pullbacks to their 30 EMA on the weekly or whether they have topped and are now entering stage 4?
Thank you.

---

The GDX chart on the weekly is right on the 30 EMA but the EMA is flat and it looks like GDX is about to take a big cliff dive. Can someone please clarify whether this is just a normal pullback to 30 EMA in a bull run or something to be worried about.


Thank you.

Hi selik73,

GLD is still officially in Stage 2, but clearly making a significant pullback towards a still rising 30 week simple MA, although it's weakening, whereas GDX is borderline with a potential Stage change to Stage 3A, but is still Stage 2B- currently imo. So with both I'd personally be looking for a weekly close back above the 10 week SMA to give a sign that the Stage 2 was still in force, but a weekly close or two below the 30 week MA would indicate a potential move to early Stage 3A. However, that doesn't necessarily mean it will resolve to Stage 4, as it could just as easily make a Stage 2 continuation.