Besides the breakdown and retest on the the miners indexes, its the weekly MACD that gives me concern.
They are all similar – $HUI, $GDM, GDX, GDXJ, etc. All the weekly MACD got more extended than the 2016 baby bull move, and have turned down. One could expect they need resetting at a much lower level before the bull move resumes. Mind you, I don’t for sure, just thinking out loud.
Is it likely the miners weekly MACD are ready for a super extended blow off (?) like the the Nasdaq weekly $NDX (peaked at almost 800) and monthly (closed at 1166 Friday)
BTW, notice $NDX weekly MACD has crossed down from its loft heights. If there is a severe correction, could it drag the miners down with it?
October and stock markets are not the best of friends.

$XAU – Weekly

$NDX – Weekly

$NDX – Monthly