There are STILL plenty of sharks in the water. From the chart action I would say the trend is down.
Most time horizon charts for-GDX are very negative.
1. There has been a complete breakdown since the was violated (see chart from 12 days ago).
2. Many sell Fractals (in ).
3. The top middle indicator is a 9 interval momentum of OHLC/4, and heading slightly up, but still below the zero line.
4. The top indicator is a 34 interval momentum reading of the GDX-price. This is weak, below zero, heading lower.
5. Chop (under chart) is in the UNDER THE SHADED AREA, indicating a STRONG DOWN MOVE. This is a sell signal.
6. Chop zone (under chop) is red, indicating a downward trend. This is a sell signal.
7. The red conversion line of the is heading lower. This is a sell signal.
8. The black baseline line of the is heading lower. This is a sell signal.
9. Prices are trading below the conversion line and baseline. This is a sell signal.
10. The is heading lower. This is a sell signal.
11. The has a red border. This is a sell signal.
12. Prices are now below a 233 interval trend-line. This is a sell signal.
13. The top lower indicator is a forward projection. For an estimation of possible FORWARD TRENDING I use the Senkou Span A (Leading Span A): (Conversion Line + Base Line)/2)). This is the midpoint between the Conversion Line and the Base Line. The Leading Span A forms one of the two Cloud boundaries. It is referred to as "Leading" because it is plotted 26 periods in the future and forms the faster Cloud boundary. I then make an oscillator out of this and plot the progress up and down around a “zero line”.
I HAVE THE RESULTS OF THESE CALCULATIONS FOR-GDX IN THE TOP LOWER INDICATOR. IT IS VERY NEGATIVE.
Positives to report: None.
There are so many negatives I believe the TREND IS DOWN.
I hope all of your trades go well. Don.