With the precious metals not able to break a new high, and closing broadly lower, the related Gold/Silver mining stocks were on the slide. The ETF of GDX settled lower by a very significant -4.9% @ $19.40. Further downside to the $18.00/17.50 zone looks probable by the next FOMC of March 16th.
Suffice to add... the precious metals and related mining stocks, appear to finally be seeing a long overdue retrace.
Downside to $18.00/17.50... then UP to at least 24/25
If Gold $1500s, then GDX will be around $40... and that is one trade I'd sure like to be involved in.