But strength feels somewhat fleeting. Between yesterday and today dow is down 700 points and gold is only up $16 for the two days. GDX has broken out of downtrend. RSI and MACD favorable. Still has some room to run but I will post a chart of GLD and show that it has not broken out of its downtrend yet. Do the miners lead the metal or vice versa. We will see but this just doesn't feel like that break out day to me. Maybe miners run until GLD hits resistance of its downtrend channel.