GDX continues to deteriorate relative to gold. This is the opposite of what should happen in a gold uptrend. In other words, the gold miners have bearishly diverged gold. If GDX continues to weaken, it doesn't bode well for gold...and of course most gold miner stocks. Will want to see that ratio turn up if bullish.
Cory Mitchell, CMT
Stock and forex trading insights at tradethatswing.com/
Stock and forex trading insights at tradethatswing.com/