Too early in the day to see if this pattern holds any weight…
Yesterday NUGT 15 had a 1/2 gap fill which can denote a loss of momentum by not filling the entire gap…
Again, wait and see…
Randy had a further downside target for NUGT…

GDX Daily 1012 Update…Using GDX Daily as proxy…
Had x 5 bounces off the 10 EMA, now GDX is testing the 13 EMA (this does appear to be a bull flag); However, before going long GDX needs to breach the potential flag formation and stay ABOVE the 13 EMA. This could possible be an early indicator of GDX losing momentum? This test does not surprise me, but GDX NEEDS to stay above the 13 EMA.

Also, when flags are built, usually takes more than 2 days…we are on day 3…CRUCIAL FOR BULLS