Always consider hidden risks
Gold Miners Bullish % Index: Overbought Zone ?
 October 21  ​( From Stockcharts  )
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The Situation

​​​​​The main technical indicators like the moving average of the
​Bullish Percentage ​Index of the Gold Miners Sector are turning
​with a strong bullish conviction ​as shown by the chart below.

That % indicator on Gold Miners Stocks is reaching again a
​level over the 40% treshold like in February and May 2015.

The 7 DMA ( Day Moving Average ) turned higherer on September 10,
​indicating ​strengthening ​sentiment for the Gold Miners Sector ​as
​you may see ​in the ​chart below...

The GDM ETF reached the lowest price level ever ( on September 11 ​at 348.55 ). ​And back then on a relative basis compare ​to the Mighty SP500, it is the cheapest ever...

We are near a tiny correction on the Gold Miners Stocks ETF (GDM) as the Sentiment is too Bullish​.
(  Chart Below - Black Trendline - Ellipses )​

In fact, the GDM ETF is a Macro Reverse play of the US Dolllar Index (DXY) as shown by the third chart below.​​

Gold Miners Bullish % Index: Overbought Zone ?  $GDM, $GLD #Trading #gdm #gold
SP500 Gold Miners Bullish % Index ( Top Panel - Dots - Red Line )
7 DMA ( Blue Line )
GDM ETF ( Bottom Panel )​​
Gold Miners ETF ( GDM - Candles )
​US Dollar Index ( DXY - Black Line )