Replies to post #26773 on Direxion Daily Gold Miners Bull 2X (NUGT)

[Rastignac]

Exactly my thoughts looking at the weekly. Happy New Year!

[surehands]

Thanks WB

[eeprincipal]

Thanks for all your fine work, WB.
Happy New Years to you too!

Looking forward to 2017 NUGT

[Citrati]

Which scenario most likely to play out? Or maybe one I didn't mention.
http://stockcharts.com/h-sc/ui?s=NUGT&p=D&yr=0&mn=3&dy=0&id=p19401212198
http://stockcharts.com/h-sc/ui?s=NUGT&p=D&yr=1&mn=3&dy=0&id=p24367853800
Two up gaps. Dec 23-27 from 6.29-6.39. Dec 28-29 from 7.17 to 7.32. 1. the gaps fill now and perhaps test support for a classic style double bottom. 2. Test to Dec 14 long red candle bottom and bounce to area of last high and 50 day to be repelled and then reverse down. 3. Forget Friday and retest to that high and test 50 day maybe even 11.09. 4. Friday began a retest to 3.48 Jan low.

Some great chartists here so interested in everyone's view. Gold currently testing 1150 in the open spot market.

[weazelboy]

Not a fan of the daily candle on the GDX chart after today...or how quickly and swiftly GDX was rejected at resistance. BUT, I'm personally calling BS on the trading today. It seemed very calculated and unnatural.

This quote from my last post on Friday, 12/30/16. And look at what has happened shortly after Gold started trading again this evening overseas...shoots straight back up to the levels it was at before the walk down. Now, to see where things stand in the morning...