Direxion Daily Gold Miners Bull 2X (NUGT)

[weazelboy]

Morning update...

GC just formed a hammer candle on the hourly that coincides EXACTLY with the gap fill on the 4 hour I spoke of yesterday. I doubt that is just a coincidence. LOL.

"IF" (and a big IF, it is) GC can turn and run here...could see a momentum shift in miners. In spite of GC being down a bunch, they are showing relative strength right now...although, NUGT is trading closer to 4-5x GDX to the downside, again! Grrr.

Here's the 1 hour:


Here's the current 4 hour. Forming a hammer at gap fill itself, but still 3 hours to go in period so that can change.


Lastly, here is the weekly. The low this morning needs to be the low...or GC will have traded an outside week in just over 2 days! 1277.70 was last week's low.