dust
Trends can be defined as primary and secondary. To be technically correct, the daily trend is still down for GDX until the diagonal upper trend is breached to the upside on the previously posted daily charts. The DUST 2 hour trend is still up until the lower diagonal trend line is breached to the downside–the trend since the first of August. As a “day trader”, I denote a trend change on the minute charts. All I care about is making money and being on the right side of the IMMEDIATE trend. When dealing with DUST/NUGT, a trader has to be close to exact in timing or substantial losses can occur. Structure is great; however, when dealing with triple leveraged ETFs timing is critical. Structure must always be confirmed with momentum. Of course trend changes on the minute charts can eventually be reflected on the larger scale charts. Nevertheless, yes, the DAILY trend is still down for GDX until proven otherwise.