The S&P 500 is maintaining an uptrend with potential consolidation, but GDX is testing support

From Investing.com: 2024-12-05 11:30:00

The SPX is up 37% so far this year, with last Monday showing signs of panic and bullishness. The chart indicates a potential consolidation for SPY in the short term, but the larger trend remains up. Looking at the longer term view for the SPX, there is a bullish divergence present, indicating an intact uptrend. Keep an eye on the monthly cumulative up down volume and advance/decline for GDX, as they define the larger trend. A buy signal was triggered in May, suggesting a positive trend until November 2025. GDX is currently testing support but the monthly trend remains up.



Read more at Investing.com: S&P 500 Maintains Uptrend: Consider Buying GDX at Key Support on Bullish Signals