Category Archives: GDX

Gold Miners … at the Pivot

April 3, 2026 By in Carl Vernon, Food Supply, GDX, GDXJ, Genesis 41, Gold & Silver, Gold Miners, Holiday Turns, The Speck, Up-Thrust Leave a comment

Retrace to Reversal?

This past Wednesday, Senior Gold Miners GDX, retraced to 50%.

Thursday, price action tested that level and closed lower.

On the chart below, we’re going to present price action facts; leaving out ‘hyperinflation’, YouTube grifting, ‘dollar destruction’, ‘it’s all ending tomorrow’, click-bait.

Before getting to the chart, let’s add, on this site, it’s always been about the food supply first, then gold and silver, link here (not advice, not a recommendation).

The video at left, is five years old.

Since then, there’s been a massive learning curve concerning livestock.

All but one of those hens is gone now, she being retired, having produced 850 – 900 eggs.

Others have been brought in to continue the supply.

Now, on to the click-bait 🙂

Senior Miners GDX, Daily

GDX, posted an up-thrust, March 2nd, then collapsed a whopping -32.8%; read that, as ‘coincidental’ 33%.

It’s now retraced to 50%, and also in a potential channel.

Volume for yesterday contracted on the test, but it was also a pre-holiday trading day.

So, let’s just note that and not put undue weight on the fact, commitment to the upside was weak (not advice, not a recommendation).

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

Miners, Reversal Set-Up

December 24, 2025 By in GDX, GDXJ, Gold & Silver, Gold Miners, JDST, JDST-15-17, JDST-25-18

The ‘Secret’ Lies, With The Action

At the top, the miners are hanging on; just barely.

While not discussed on this site, yesterday was a day trade in the Junior Miners (GDXJ) inverse fund JDST.

The thinking (yesterday) was, ‘today’s the day’.

Turns out, this morning’s session may be ‘the day’ (not advice, not a recommendation).

Junior Miners GDXJ, 15-minute

Note how the behavior of the first fifteen minutes ‘alternates’.

Yesterday’s 15-minute bar posted lower and continued for the next four bars before starting a recovery.

Today is different; straight down, no recovery (so far).

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

Miners, at The Edge (again)

December 21, 2025 By in GDX, GDXJ, Gold & Silver, Gold Miners, SIL, SILJ

Are We Close?

While the Senior and Junior Miners GDX, GDXJ printed higher for the week ended last Friday, the silver miners SIL and SILJ did not.

SIL price action is hanging just above resistance on momentum (MACD), that’s posting a bearish divergence.

Stay Tuned

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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

Miners, pre-market, Target

November 10, 2025 By in ABD-25-15, Banking, Biotech, GDX, GDXJ, Gold & Silver, Gold Miners, LABD, LABD-25-15, Up-Thrust, XBI, XLF

Inflation Higher, Deflation Lower

As of 7:55 a.m., EST, Senior Miners GDX are trading in the area of the dashed magenta line.

The prior two updates (here and here) targeted this area as a potential location for retrace and reversal (not advice, not a recommendation).

Toggling between the two charts, shows price action is actually in the middle of the (prior) target areas.

Other Markets the Same

Several other markets are in the same (retrace, up-thrust) position; specifically, XLF and XBI.

We’ll cover those in another update, if price action warrants.

Stay Tuned

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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

Miners: ‘Retrace’ Update

November 5, 2025 By in Deflation, Ed Dowd, GDX, GDXJ, Gold & Silver, Gold Miners, UUP 1 Comment

Bounce

The chart insert at left, shows Senior Miners, GDX, have bounced off support (blue line), making another attempt at a retrace.

The lower magenta dashed line is 38.2%, with the 50% level, as the upper line.

If this retrace attempt fails by posting successive lows below ‘support’, it indicates we may already be in the ‘deflationary scare’ as discussed by Ed Dowd many times in his interviews (not advice, not a recommendation).

Note the dollar (UUP proxy) is currently in a rally.

Stay Tuned

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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

Miners Struggle to Move Higher

November 4, 2025 By in Elliott Wave, GDX, GDXJ, Gold & Silver, Gold Miners, Wyckoff 1 Comment

Not Happening

Based on price action itself, the miners are refusing to retrace higher.

The last update suggested a retrace to the usual location(s), at least the 38.2% level, the vicinity of ‘wave iv’.

So far, not even that is happening.

Senior Miners, GDX, Daily

Pre-market trading in GDX (as of 8:24 a.m., EST) is lower.

At this point, from the chart above, we can see the index struggling to move higher.

Elliott Wave or not (from previous post), Wyckoff method says the market itself defines the next likely move.

It’s possible we’re not at the bottom of the current down leg; that we’ll post lower before making a serious retrace attempt (not advice, not a recommendation).

Stay Tuned

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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

Gold Struggles to Close Gap

October 31, 2025 By in GDX, GDXJ, GLD, Gold & Silver, Gold Miners, Larry Williams

Inching Higher … Almost There

The ‘Commercials’ have left the party.

During this recent interview, long-time trader Larry Williams, says the ‘Commercials’, i.e., those who know their business, have left the party (time stamp: 17:30).

The chart itself, showed record breaking thrust higher followed by a swift down-move.

This week started with GLD, posting a gap lower.

At this point, it’s (still) trying its best to close that gap.

Gold GLD, Weekly

The Fibonacci levels remain on the chart.

Note the 50%, ‘correction’ level, from the last update.

If last week’s high really was a significant reversal, it’s a long way down to 50%.

The fact GLD is struggling to close the gap, provides some confirmation the miners are in the same boat; possibly worse (not advice, not a recommendation).

Stay Tuned

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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

Gold Miners & Elliott Wave

October 30, 2025 By in Elliott Wave, GDX, GDXJ, Gold & Silver, Gold Miners, Prechter, Retail Investor, ZeroHedge 5 Comments

Works Best Under Stress

Elliott Wave and Fibonacci are joined at the hip.

They work best when markets are emotional or under stress.

Historic moves like that of gold and silver, are such times (not advice, not a recommendation).

We’ve already seen Fibonacci count(s) operating in the financial sector here and here.

So, let’s look at the miners and see what’s happening.

Senior Miners GDX, Daily Close

Five waves down; the direction of main trend has changed from up, to down (not advice, not a recommendation).

Recall, as long as the wave structure stays ‘in-effect’, the target area for the counter-trend retrace is:

‘The previous 4th-wave of lesser degree’, link here (click on ‘Corrective Waves’ and scroll to ‘Depth of Corrective Waves’).

That area is indicated by the magenta oval.

While the potential corrective wave grinds higher, ‘retail’ moves in to buy the dip, link here.

Stay Tuned

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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

Top of The Dow

October 10, 2025 By in DIA, Dow 30, GDX, GDXJ, Gold & Silver, Gold Miners, SLV, Up-Thrust, Wyckoff 2 Comments

Where The Risk is Least

The ‘risk’ on a short position in the Dow (DIA), is yesterday’s high (not advice, not a recommendation).

It’s very early in the pre-market (7:48 a.m., EST), DIA is trading slightly higher (at 464.34), but anything can happen between now and the open.

Massive Margin Call

The Trillion Dollar margin call has to come from somewhere; maybe yesterday’s action in the metals and miners is going to force everyone’s hand.

Silver spiked, outside-down, on heavy volume.

With that said, on to the chart.

Dow 30 DIA, Daily

From a Wyckoff analysis standpoint, it’s all there; a push through resistance to all-time highs, a struggle, then new daily low and now today, a possible upside test.

The chart also shows an apparent volume climax, a typical ‘last gasp’ market action.

Stay Tuned

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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

Gold … Correction Coming

September 19, 2025 By in DUST, GDX, GDXJ, GLD, Gold & Silver, Gold Miners, JDST, JDST-25-14, Positions 3 Comments

Measured Move

We’re there now.

The chart below, shows a (potential terminating) wedge with measured move.

Tracking fund GLD, has met the wedge target.

As always with the markets, anything can happen.

Gold GLD, Weekly

If gold (GLD) does correct, even just a little, it’s likely to hit the miners, GDX, GDXJ as well (not advice, not a recommendation).

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