Exhaustion Gap?

For Junior Miners GDXJ, it’s either a sustained breakout higher, or an exhaustion gap; years in the making.

As can be seen in the chart, we’re leaning towards exhaustion (not advice, not a recommendation).

Either way, the situation (as of 11:15 a.m., EST) for both bulls and bears, is at The Danger Point®

Junior Miners, GDXJ, Daily

We’re in mid-air.

The MACD, itself says, from a momentum standpoint, the current position is weak.

From a positioning standpoint, there have been several interations to short this sector.

As can be seen in the side bar, another short, JDST-25-09, is now open (not advice, not a recommendation).

Depending on price action, more updates to follow.

Stay Tuned

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