Direxion Daily Gold Miners Bull 2X (NUGT)

[weazelboy]

Agree with the black candle statement. However, I think it's evidence there is no conviction in this move up...which is what has me most concerned. The only positive price momentum is coming on morning gaps due to overnight strength in gold. Bulls have not been able to take full charge and with GDX now hovering in the 50/200 SMA range on the daily...they are leaving themselves wide open to a complete smackdown...especially when the inevitable happens and gold cools off a bit.