It's called Relative Strength. That's why it's so hard to figure out direction right now. If I recall, when Miners lead Gold versus Gold leading Miners (i.e.- first half of 2016)...the moves are much more powerful in Miners.
IF GDX can muster enough strength to clear yesterdays candle to the upside (i.e.- high over 23.48)...that will be extremely bullish for GDX/NUGT moving forward. That is a tall order at this point based on where it's trading. Currently trading on an inside day which shows uncertainty.
Still watching closely to determine next move. Very cognizant that a quick flush "could" be lurking. All JMO. GL!
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