Replies to post #41925 on Direxion Daily Gold Miners Bull 2X (NUGT)

[Rastignac]

OK, so the catalyst is S&P500 -1.5% pre-market.

[weazelboy]

Still not sure how much it actually 'cooled off', but I feel ya. So far, it's a perfect bounce off rising 50 MA on 4 hour for spot...which is a change of patterns in this sector.

GC futures at major resistance here at 1238-1240. If it can get/stay above this level on a closing basis...could setup a nice run to 1260-1270 area.

Silver popping, but this move must hold. Cannot see another mega-move and fade there.