Update; Clear Objectives for GDX, GDXJ

GDX held neckline support after spiking below the bear flag’s origin point and is filling the downside gap off of the bear flag breakdown.  If this rebound is more than a fleeting thing it will get through the SMA 200 (red) and eventually make a higher high above the early April bear flag top.


GDXJ got above its neckline so as not to leave the bears feeling too comfortable.  It too is filling a gap today.  It too would need to get through the SMA 200 and make a higher high to the top of the flag to get back on track.


Why do we continue to give these a chance?  Because of the weekly chart potential bottoms, as I seem to repeat robotically.  But the dailies need to get fixed first.  These are not yet fixed, but for a second day are making progress toward that goal.  What they do after filling these gaps would be key.