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Prior to today, people were falling all over themselves to buy gold – particularly the gold miners. The GDX is, only since yesterday, down about 9% from its high. And – as TradingGoddess is fond of saying – look at the volume!
I would be very interested buying this at around $42. For now, I'm just watching.
What a difference a year makes, eh? Last September, the world was going straight to hell. This year, everything's coming up roses.
We are mashed up against 50% retracements all over the place. Some indexes – the $NDX springs to mind – are starting to breach the dam, pushing above resistance levels. Others are still contained but merit close watching, such as the Russell 2000 ETF, IWM:
And just in case you needed to feel any more melancholy: