The Market Vectors Daily Gold Miner ETF (NYSEARCA:GDX) has not decisively penetrated our stop level and in fact is reversing.
The Hourly chart of the Direxion Daily Gold Miner Bear 3X ETF (NYSEARCA:DUST) shows that price action has attempted to make a new low. That move has failed.
Price action has now reversed and is moving back into the range.
Chart by TeleChart
It should be noted that the overall markets (Dow, S&P 500) appear to be in a reversal as well.
Disclosure: I am long DUST.