GDX - miners in trouble

With the precious metals breaking lower, the related mining stocks saw significant declines. The ETF of GDX settled -4.8% @ $16.99. With Gold set to break the Nov' 2014 low of $1130... and continue lower to the giant $1000 threshold, GDX looks set for the low teens... if not 12/10 zone.


GDX, daily

GDX, monthly

Summary

Little to add.

Despite the broader equity market ramping in the afternoon, the miners were unable, as the precious metals remained very weak.
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The mining stocks look set for broad downside into the autumn.... and if the USD can break >DXY 100.... the declines will be increasingly severe.