GDX is threatening to break the pattern today. It has taken out the trend line and a clear of point 2 could set it on its way.
We’ve been noting the relatively better standing of GDXJ (to GDX) and today it is clearly making the move that would indicate another leg up.
Now, it’s only 20 minutes into a new week and we can’t discount a whipsaw, so let’s stay grounded. But if these early indications follow through today the result should be the correction’s end.
