June 23, 2017

Short-Term High-Probability, Mean-Reversion Indicator – Gold, Oil and Natural Gas Hit Extremes

The stock market opened the day lower and toiled around negative territory in the early part of the trading session, but bounced hard during mid-day to finish in positive territory. As a result, gold (GLD, gold miners (GDX), oil (USO) and natural gas (UNG) pushed into a short-term extreme. Natural Gas is the one to watch here. Given that the High-Probability, Mean-Reversion Indicator has pushed into a short-term extreme and that the RSI (2) has moved above 99, it is highly plausible that a short-term reprieve is near (1-3 days). Subscribers stay tuned. … [Read more...]