Direxion Daily Gold Miners Be (DUST)

[str8_chuter]

Gold had another miserable week but that didn't stop GDX from putting in a positive week.

GDX vaulted almost 2 bucks from last week's low but the technicals on the chart still moribund. On the daily chart, CCI could not break above 100. MACD improved but still in negative territory. On the weekly chart, still couldn't take out the 9-week MA. Looks like a counter trend rally.

$GOLD went nowhere, gaining a whopping 20 cents for the week. On the weekly chart, still stuck below the 9-week MA.

The $USD index finally caught a bid today after a rough two weeks. Bounced off the lower BB today on the daily chart but folks need to get a grip on the "dollar weakness" headlines. The index has been stuck in a trading range since May. Next week brings another Fed hike so perhaps the dollar turns north here.

Rough week for DUST but note that it bounced off the 45-day MA on Thurs.