The bounce lives, and it’s got some positive divergence behind it on the MACD & RSI momentum indicators.
GDX may be confirming today that the divergence to the price drop into September will play out in a positive way on the short-term.
GDXJ is very similar.
What we’d want to see is more volume show up (like that with the initial thrust last week). These ETFs are still below the EMA 20, which means the short-term downtrend is intact. We want to see that broken with some authority in order to start thinking about a rise to the down trending SMA 50s and gap fills up there.