GDXJ Breaks The Bear Market Downtrend On Massive Volume

GDXJ officially broke out of it’s bear market downtrend channel last month on a huge increase in volume.  The number of shares traded was around 130 million which is approximately 50% or so higher than the previous record volume.  The next stop for GDXJ should be 50, where it might take a little time to overcome the resistance from the selloff in 2013 in gold stocks.  But this type of accumulation makes it very likely the gold bear market has now ended and a new bull market has begun.Visit StockCharts.com to see more great charts.

One thought on “GDXJ Breaks The Bear Market Downtrend On Massive Volume

  1. Justin, As always thanks for providing insights of Gold trends. Something I like to know your opinion, As you aware developed countries equities markets are uptrend last few years but it has to end at some point, though gold miners are cheap now do you think when equities enters in correction phase miners gets even cheaper? How you think market will take it / react?

    Thanks in advance

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