Yesterday’s subscriber update on the GDX Gold Miners ETF, now public

The GDX Gold Miners ETF takes a well deserved pullback, as if on cue

Of course I was clueless that a pullback would come today. But it was my job to relay the situation to subscribers, and that situation was that GDX was filling the next upside gap (and objective), was overbought on the daily time frame and traders needed to know this information.

The NFTRH+ update linked above is now public and here is the updated GDX (daily management) chart, showing the filled gap and harsh pullback. You can see the next support area that would need to hold to keep things comfy. The linked update also explores other possibilities.

Personally, I took the profit on one position but now need to decide whether to take more, hedge or sit on my hands. I am not loaded like I would like to be on the next big opportunity if it comes as expected in the next few months.

GDX gold miners ETF daily chart

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This Post Has 2 Comments

  1. Reinier

    Does not look like a gap fill to me. 4/22/22 low was 36.71; 4/23/22 high was 36.17; 4/13/23 high was 36.10. Bloomberg data; is your data different? Is it “close enough”?

    1. Gary

      I get 36.10 on the nose, in both cases.

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