What you are about to see, is a depiction of the up vs. down volume in the GDX, over time. It appears that this advance has died out as of Dec 19.
HOWEVER, this exact pattern was seen in the beginning of the June advance where virtually EVERYONE but a couple wags were certain we'd test and break old lows. So far those lows have held. Considering that virtually every bit of data and every measure is tainted as in "The Books are Cooked, The Tape is Painted, and The Money is Queer.", its hard to take seriously small % moves violating old lows. Seems that TIME and DIRECTION are our ONLY reliable constants, with everything else suspect. Given this, I illustrate the Up / Down volume balance of the GDX.
The entire issue is that all measures of technical movement are in seriously overextended downside positions. Can they get deeper, yes, but at that point they flatten down on the bottom like whale manure, and cant go any lower.
Next post we will look at some "canaries in the coal mine" and see if they hold any info for us.
Meanwhile some ideas concerning "shifting sands" which it seems the Western Financial System is based on:
Charles Hugh Smith's blog
and the reference that Matt Tabbi used to QUARTZ in an block-buster article
the Operative quote being:
"For those keeping score: That means the world’s key price benchmarks for interest rates, energy and currencies may now all be compromised."
So the question you ask yourself is NOT " Do I feel Lucky Today" but
WHAT IS NOT OR CANNOT BE MANIPULATED?
The real deal is you have to put on your X-RAY vision glasses, like Clark Kent to see thru the fog.
Tune in again and see if the canaries are still singing............