Update: GDX-is weaker than when I published the negative (sell) chart four days ago. It is down another 6% since them. Here are ONE DOZEN negatives I see in-GDX, and why I feel this-ETF is a sell: 1. Sell Fractals in effect (red rectangle on chart). 2. Alligator jaws opened in tandem with sell Fractals. Alligator feeding in down-trend. THIS IS YOUR DIRECTIONAL COMPASS. 3. Chop indicator (under chart) is well above the 38.2 shaded area. This indicates a ZERO trend and, at best, sloppy action with a downward bias. 4. Phase energy (lower top indicator) is heading LOWER. The action is below the zero line. It failed at a rally and is now lower. 5. Momentum (top indicator) is the 5/34 measure, and this is bearish action and is heading lower. Histogram within is also heading lower. 6. Prices are trading UNDER the Ichimoku Cloud . This is a sell signal. 8. Prices are trading below the Ki jun-Sen baseline of the Ichimoku Cloud . This is a sell signal. 9. Prices are trading below the thick red Ichimoku Cloud conversion line. This is a sell signal. 9. The red Ichimoku Cloud conversion line direction is heading lower. This is a sell signal. 10. The Ki jun-Sen baseline of the Ichimoku Cloud direction is heading lower. This is a sell signal. 11. The CHOP ZONE indicator (under chart) is red, indicating a down trend. 12. DMI-(above chart, middle) is showing red (sell) as the dominant force. The DMI-(black line) is flat to down. Note: the DMI-and-CHOP are in sync. NO TREND. In my opinion-GDX is heading LOWER. I have given you a dozen negative signs as my objective evidence. Because of the recent sell Fractals and other negative signs, its hard for me to envision GDX-heading into a new up-trend. As always, good luck to you in all your trades. Don.