Direxion Daily Gold Miners Bull 2X (NUGT)

[weazelboy]

Yep, RSI 14 only at 14.39 on GDX too. Change it to RSI 8 and it's at 7.54. LMAO!! Stochs are at 2.46 ADX at all-time extremes. Most techs can't even measure anything higher/lower. That's how you know this is a fear driven sell-off.

Don't get me wrong, it clearly can continue going lower...but trying to judge things off technicals is out the window. When you can't stay above the EMA 8 for any length of time on a FIVE MINUTE chart...and haven't touched the 200 MA on same chart in a week (you should touch it every 2.5 days or so...it's a get out at any cost mentality. It won't even DCB for goodness sake!

But don't worry, we're entering the "strongest seasonality" for metals/miners in August & September. BAHAHAHAHAHA......