Way Back, To 2012
We have to go all the way back nearly ten-years, to find five consecutive down-months.
The bear market in the miners GDX, and GDXJ, is not any news to those accessing (or following) this site over the long-haul.
Nearly two years ago, this report pegged the bear market before it was even a blip in anyone else’s pineal gland. 🙂
That fact’s proven-out by the listing of no fewer than ten links to other analyst’s super-bullish posts on gold and gold miners.
It’s safe to say at that time, everybody else was pointed in one (bullish) direction.
So, what’s happened to GDX (and GDXJ) since that October 25th, 2020, report?
GDX, is down approximately – 38.2%, and GDXJ, has declined – 47.6%.
Not exactly a bull market.
Senior Miners, GDX, Monthly Bar
Looking at the chart, it’s obvious; the prior ‘five-months’, distance traveled, was much less than our current situation.
Add to that, there’s no real support until lower levels. The decline’s free to continue, unabated.
This site’s primary focus is strategy. The longer term, the better.
Including the October 25th, 2020, report on the gold miners, we’re coming up on several other significant two-year anniversaries:
Let’s not forget, ‘The Speck’, as we call it, was identified as a hoax well over two years ago; documented with this post.
The intuitive assessment of only partial data (at best) was, and probably will remain, the most important post of all.
Charts by StockCharts
Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.
The Danger Point®, trade mark: No. 6,505,279