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GDX: Quiet, Testing In Progress............

|Includes:VanEck Vectors Gold Miners ETF (GDX)

The Market Vectors Daily Gold Miner ETF (NYSEARCA:GDX) is testing the underside of the trend break shown in the daily chart below:

The test may be nearing completion and volume has contracted for the day........

Subsequent action will give more detail on whether this is a trend-change or a yet another set-up that has been orchestrated to trap the bulls.

GDX Daily

Chart by TeleChart

Disclosure: The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Stocks: GDX