GDX – GAP FILL or more?

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GDX is this just a gap fill

Some short term indicators got a little overdone. Is this just a gap fill, or is this run getting “Tired” and due for a little more downside?

We had a similar pullback last time, it lasted 1 day, then we popped a bit higher . It was then overdone and time to consolidate.

 Now , however, We may be close to a more meaning full pullback soon…. it has been a nice run for the past 3 months. Cautiously lightening up (remove leverage) , watch support is prudent. I will let my positions ride in case we just test the break out & M.A.’s , or just gap fill, but then  thats it. 

If we get another good POP upwards…it is time to hit the sidelines and wait for another opportunity I.M.O.

3 replies
  1. Jack Dog
    Jack Dog says:

    Alex,
    Very happy for you. Have been around as a fly on the wall ever since SMT, B&BT, Likesmoney, and Financial Tap beginnings with Poly from SMT. You have, ( x-that), you are one of the very few that has enabled ones like me to trade better. I want to thank you personally for sharing your knowledge.
    Jack Dog

  2. alex
    alex says:

    JACK DOG
    Thx for stopping by and for sharing that with me. I am glad you’ve benefited by my posts…Thats really why I do this. You’re welcome and thx in return for the encouragement!
    -Alex

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