DUST 2x Inverse Gold Miner ETF Weekly Chart; Oversold; Falling Wedge; Positive Divergence; Lower Band Violation; Price Extended

DUST is done and dusted, but the 2x inverse gold miners ETF wants to rise like a phoenix from the ashes. The gold miners, GDX, and the juniors, GDXJ, are moon shots along with gold this year. The gold bugs finally have their day in the sunshine receiving big gains for their loyalty to the yellow metal.

DUST moves lower when the gold miners, such as GDX, move higher, and DUST moves higher when GDX moves lower. This explains the severe beating on display above. A couple charts ago, Keystone talked about gold and the miners developing, or at, a neggie d top.

Thus, mathematicians say thus a lot, that is why we never sat at the cool kid's table, DUST should be in positive divergence (if gold and GDX are in negative divergence) and the chart clearly shows that to be the case (green lines). Price is fueled-up ready for a trip higher, a rocket launch, on the weekly basis. The green falling wedge and oversold conditions are also bullish set-ups. Ditto price extended below the moving average ribbon requiring a mean reversion higher.

If you bring up the DUST daily chart, that is also possie d across all chart indicators. If you bring up the DUST 2-hour chart, that is also possie d. Keystone pulled the trigger. Pull it! Pull it! Pull it! Shoot to Thrill. Play to kill. Too many women, too many pills. There's only one Angus. No smartphones in that crowd; life was better.

Anyhoo, many traders have stepped up to the plate to catch the DUST falling knife over the last year and some are only left with bloody stumps. The BPGDM, bullish percent gold miners, hit 100% in August and it is odd that gold miners have not cracked yet. The constant Powell drumbeat of rate cuts maintains a soggy dollar and a weak dollar sends gold, and the folks that mine the gold, to the moon.

One week from now, Pope Powell brings the tablets down from On High to tell everyone how to trade the crony capitalism system so those comments and the rate decision will impact, stocks, bonds, dollar, gold, etc..

Keystone bot DUST today once the 2-hour, daily and weekly charts were all set up with possie d. Another potential trade would be shorting GDX and even shorting individual gold miner names. It is usually a fool's errand to jump in front of a fast-moving gold and gold miner train but Keystone wants to find out if that is the gold train or instead the light at the end of the tunnel paving the way to gold miners in retreat. Long DUST is a speculative trade not for the faint of heart. Going against a strong gold and gold miner trade this year is high-risk trading but, no guts, no glory.

DUST violated the lower band so the middle band at 13.73 and falling sharply is on the table. Ditto the upper band at 22.65 and falling sharply. The ADX is off the charts and only has one direction to go in; down. The ADX did not identify the long painful road lower as a strong trend lower until the summertime (ADX over 28-ish). This would be expected to roll over and go sub 30 as time plays out.

Knowing that gold and gold miners are a moon shot, how do you think the Aroon looks? Yes, the red line shows that all the DUST bears remain bearish and expect the chart to continue lower and lower. Humorously, the green line shows that nearly all the DUST bulls expect the chart to go lower and lower. There are no DUST bulls; zilch. Everyone has given up on DUST and expects gold miners to move higher in price forever. Well, there is one DUST bull now; Keystone. Dust bowl; that is funny. It will be fun to watch. Maybe not if DUST continues lower. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.