but this much we do know :
it's obvious that
GDX has been trending up since its June lo with a pattern of higher hi's($22.21;$22.79;$23.89;$25.08)
GDX has been rallying to higher hi's until now($25.20;$27.72;$30.94;$31.35)
Given the potential of a H&S bottoming formation the recent $28.64 hi must fall & resistance @ $31-32 must be vaulted to confirm the breakout..
that is unless $25.08 fall 1st
Even the vicious stock mkt bear mkt that began in Jan1973 @ Dow 1050 ended in 23 months in Dec 1974.
This sectors' (cyclical) bear mkt is a little long in the tooth no?
or will we in hindsight admit that a new secular n\]bear mkt started inSept 2011?