GDX - net gains, but vulnerable

With the precious metals closing moderately higher, the miners gained - despite broader market weakness. The miner ETF of GDX settled +2.0% @ $23.29. Near term outlook threatens some cooling to the 21/20s. Broader trend remains powerfully strong.


GDX, daily

GDX, monthly

Summary

*a notable black-fail daily candle... bodes bearish in the short term.
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Suffice to add...regardless of any short term cooling, the broader trend is VERY powerful, and we're still net higher for the month by 16.6%.
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If Gold $1400/1500s - with broader capital market upset, GDX would likely trade to the $35/40 zone.