GDX has returned to the breakout point of a pitchfork structure (click to enlarge):

GDX pitchfork 20160824

Compare to the gold pitchfork from 15 July:

StockCharts 2 pitchforks bullish action 20160715 goldpitchfork 1310edit

Is this going to be like the May fake shakeout? Gold action is not yet as bad as May but GDX action is a bit worse so far.