In microcosm the markets did what they (IMO) should do. Gold stocks went up at the dawn of a positive fundamental phase and most everything else went down at the dawn of a negative one. Of course, microcosm is a day, not a trend. But it was good to see, regardless, even during noisy Fed week.
The GDX daily “management” chart looks like it is breaking the bull flag upward. Caveat: Fed week, machines, etc.
But looking just at the technicals, the flag is breaking upward after holding the 33 area we’d identified as key, and as long as the flag break continues the next target is 40+ and a fill of the upper gap. At the very least, that short-term option has taken a firm lead on the other option, which is a short-term gap fill below 28.
