Direxion Daily Gold Miners Bull 2X (NUGT)

[weazelboy]

I'm still here ya'll...just not a fan of the current near-term setups in GDX/NUGT. I feel there is negative divergence building on many TFs with no conviction for further push to the upside.

The hourly below you can see what is transpiring and there are 3 close gaps outstanding (orange dotted lines) that I won't be surprised to see the closest two fill before a flight higher...and possibly all 3? I don't think the lowest gap will fill at 21.30 (at least it shouldn't if all of this move is real). Also, price is due for a touch of the lower bolly as well. All JMO.

PS - I should note, a break with conviction of that top dotted blue line changes things.