Gold Stocks

• Notice the retest of the breakout gap in the gold stocks, again, on shrinking volume. This implies a contraction in downside force. All closes above the gap on shrinking volume would be considered bullish setups.
• In addition, the U.S. dollar rally has displayed similar, inverse technical warnings.

While the tape is still negative, its quality is deteriorating and time is running out. This suggests that a turn is near. Be certain that the paper tiger operators know it.

Gold Miners Index ETF (GDX):