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The direction is still unclear. The price remains in both superimposed channels:
[IMG]http://imagizer.imageshack.com/img922/5310/crhW64.png[/IMG]

A few recent talking heads regarding gold, etc:

Ira Epstein:
[URL]https://www.youtube.com/watch?v=OQBo_tCUOHQ[/URL]

Kitco:
[URL]http://www.kitco.com/news/video/show/Kitco-News/1256/2016-05-10/Gold-Stocks-Overheated-20-Correction-Coming-Says-Technician[/URL]

[URL]http://www.kitco.com/ ...

GDX took a big hit Monday--down over 6%. Profit taking in light of a stronger dollar is mostly blamed for the fall by the mainstream media.

This chart seems to suggest that there is uncertainty in which direction the trend, if any at all, is heading. Perhaps today will be the deciding factor.

[IMG]http://imagizer.imageshack.com/img921/9867/GYjXza.png[/IMG]

The Dow lost 35-points on Monday but the major indices were quite mixed with strength in the small caps and the Nasdaq, and weakness in indices with exposure to oil and China, which were down sharply.

Earnings season is winding down and now all eyes are back on interest rate impacting data leading into June's FOMC meeting.

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After a weak jobs report, stocks opened lower on Friday. The bulls made a coupe of attempts to buy the dip in the morning, and each time the bears fought back, but finally after about 1 PM ET the bears seemed to given in and we saw the indices close with decent gains. The Dow ended the day up 80-points, but for the week it lost 33-points.


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The rally off the February lows seems to have either ended or paused over the past few weeks and there are plenty of mixed indicators to choose from in terms of trying to ascertain where the market goes from here.



The NYSE, which is probably the best exchange to gauge the overall health of the stock market, shows us that price peaked more than a year ago and more recently hit a double top since October, which would seem to be bearish. But ...