GDX 2 Hr Chart. Note the inverse HnS has many hits to the neckline, suggests the neckline is hot. The breakout gap over the neckline is bullish. GDX may be in the process of building a bull flag for the next advance. The lower blue rail extends all the way back to Jan 19 bottom.

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GDX Daily Chart. Yes, the MACD is showing slackening momentum – always does in a consolidation. TSI, and RSI are resetting without the index losing ground. The 10 day EMA has finally caught up, and the 20 day EMA is closing in on the neckline – additional support. The OBV suggests many anxious buyers at every little dip.

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GDX weekly Chart. GDX is sitting right on the lip of the GAP down that happened back in April 2013. Take a look at Accumulation/Distribution line at the bottom of the chart. Pretty spectacular. Is GDX gathering the energy needed to leap back across the gap? Rambus suggested only a Monday gap over the ravine will show up on the weekly chart. Now that would be a bull market story for the ages. Monday. Hmmm.

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GDXJ 2 Hr Chart. Similar to GDX in that the HnS neckline looks hot (many hits) GDXJ also gaped over the neckline, but the potential bull flag is up-sloping suggesting the “J” is in a hurry. Is there some catching up to GDX that needs doing?

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GDXJ Daily Chart. The orange-brown boxes are to point out that a break of the Bollinger Bands when the band is moving in the same direction as the index need not be bearish. The index (stock) is in a hurry, may need to rest a bit, but does not necessarily indicate a larger correction is in the offing.

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GDXJ weekly Chart. The “J” is a few points shy of the gap and would seem unlikely to be ready to make the leap with GDX. In any case the gap may have already been filled in Aug 2013. Weekly MACD has lots of room to run. Acc/Dist and OBV are spectacular.

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I have been selling only to change horses – er bulls, now and again. The PMs are scary bullish right now. That may be the best time to hang on tight. If the neckline or the uptrend line fails it will be time to reconsider.