On a weekly basis, the KST (MACD – work alike) on GIMBO bottomed out at -375. It is in fact, an oscillator that has no fixed boundary up or down. Likewise, the MACD on the GDX bottomed out at
(-4.64), almost a 100 pt lower match. Were things symmetrical, which they will not be, that would indicate we'd attain those measures on the next up leg, much like a seesaw.
Using my powers of imagination, I'd look for an upside surge, but not to those levels, before we get a correction. As the market moves in a given direction the steps can get stronger and longer, eventually overshooting any reasonable levels due to human overreactions.
As we have seen those overreactions based on Bear Moves at the End of a Bear Cycle, I'd expect to see those kind of OverShoot moves several legs up into the Bull Cycle.
Both Charts, GDX and Breadth Oscillator show me a hesitation, correction and now consolidation, building the base for the next upleg.
The BREADTH OSCILLATOR moves up and down with Fixed BOUNDS, always crossing to the upside and downside of ZED or ZERO. GDX and the MACD of GDX which can move UNLIMITED amounts in either direction. Thus GIMBO (both Long & Short Term) the Breadth Oscillator, is a Relative Value, while the GDX price or the MACD is an Absolute Value, with GIMBO moving like a gear inside a wheel, an indication of the motion or momentum, up or down, inside the wheel.
GIMBO = Relative Momentum, GDX & MACD = TREND.
BOTTOM LINE. Both GDX & its MACD are in a Low, Recoiled Place, GDX below a Red Ichimoku Cloud (which supplies us with a Time Trend and Balance Point)(and acts as a Magnetic Pull to prices below it). GDX MACD bottomed hard at (-) 4.64, and has moved strongly up, 75% to the way to ZERO Equilibrium. I expect it to keep moving, cross ABOVE Zero and then react, consolidate and move on up again. So it will be:
Rally, Correct, Consolidate, Resume, IMO from here.
Now about those stocks:
ABX, AEM, AGI, ANV, AR.TO, AU, AUQ, AUY, BTG, BVN, CDE, EGO, FNV, GFI, GG, GOLD, GDRZF, GSS, HL, HMY, IAG, KGC, MUX, NEM NGO, NSU, OSKFF, PAAS,
RGLD, SA, SAND, SLW, SSRI, TGD, TRX, VGZ, SVLC, SIL, SILJ, TAHO, HBM, SEMFF, GPL, EXN.To, VALE, PALL, GSV, TC, BAA, DDC, DTG.TO, TGB, RBY, AUMN, AXR, MVG, MGN, NEM, PG.To, MGH, EGI, SWC, RIO, PPLT, AGQ, ZSL, CEF, MNT.To, DRD, ASR.To, PVG, LODE, SAND, LSG, and some I have forgotten to add.
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