Using this same indicator, I applied it to GDX, and it is not yet clear that GDX is on the rise using this indicator, but the stock may push the indicator over the edge in the days ahead.
Below is a graph of GDX, calling out when the 20-50 weekly SMA crosses, potentially indicating a stock trend change.
As you can see it is reasonably accurate as an independent indicator over long periods of time.
Using this indicator, there is ZERO indication of a market trend change, so for now the sky is the limit.
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