Hubert Senters here.

I had a question from a viewer wanted me to take a look at JNUG which is a gold miner’s bullish 3X ETF. Okay. So on this situation I would just prefer you trade gold. I’m going to technically break this one down for you and then I’ll talk about where I think it is a little bit better place to be.

So it is below the cloud which is a negative so it’s a short. It’s non-trending though. You can see the ADX is up $14.31. Ideally you want that to ramp up to around $18, $19 or $20. $20 is better. So if you can get the $80 extra rise above $20 and you can get the price action to get back above the cloud then it’ll be a buy signal.

Right now you’ve got 10 or if you got that in 11 days. Let’s just say 10 days below the cloud and the lagging line is not down there yet. It went down there on this initial move now it’s going back up. So for this one, I would just stay away from. It’s definitely not a buy yet. It would be a buy when it goes above the cloud backup here. Right now, it’s a better short than it is a long but markets are a little bit crazy.

Now, this is three times bullish. If you compare at GC just gold to this one. Gold’s a little bit better buy but you can see the ADX is still $15.83 so I’d stay away from that too until gold starts trending a little bit better.

It shouldn’t take long and it’ll probably break up to the high side if I’m correct and then go to $1500 if I’m wrong it will go below the cloud and you could short it and ride it to the downside so either one of those will be okay. Neither one of them are screaming buyers right now.

The gold futures or you could do GLD if you don’t like gold futures. GLD is an ETF. It’s going to look a whole lot like gold. You could do it here and then you just have to wait on it JNUG that three times bullish ETF thing that you’re looking at there, hopefully that will help you out.

Mark Helweg is doing a special webinar on ‘’How to Potentially Profit from Huge Market Moves without predicting the direction.’’ Good luck. It’s damn near impossible to do these past few weeks.

Like you got three days up one day down, two days down, one day up and it’s a big wild range so this strategy is really kicking it right now. The webinar is going to take place Wednesday, October 9th at 8PM EST. I will HYPERLINK you to this registration page.

Good luck. Hope it helps. See you on the next video.

Hubert.