My observations are very similar to yours. I'll stick to the miners vs. the commodity. As of today, and the picture can change any day, GDX failed to penetrate 50 DMA. Trading volume is average, no better than that. It's stuck in the 12 months descending channel which may easily bring it down to my original target of $32.50 before breaking to the upside. Looks more bullish on the weekly chart though. If it breaks 50 DMA on at least 15 mil volume the picture may change very fast. As it stand at this minute, the volume is about 40% below average. This may change by the end of the day.