DUST and Gold Correction Update

As well we see that even though we saw some action in gold and silver today they basically ended up where they started overnight (no charts). This is the indecisive action I was expecting to see. We also see today that a potential bearish evening doji star has formed on the GDX though we don't see it on the HUI. And then the GDX has clearly ascended rapidly which should be cause for concern and the MACD at the bottom of the chart is threatening to rollover.

As far as DUST is concerned, perhaps you can appreciate my note on the chart from 2-19-2016 that this period will require conviction. Conviction of belief and skill belaying your fears. To me the GDX and DUST charts are the mirror opposite of each other and both are due for a harmonious re-balancing with their moving day averages. Such is the dance. Now you'll notice with DUST that the prior saucer shaped low took about two weeks to fully form and round up. Should that replay for us than we are looking at this move culminating towards the middle or end of next week. You can also see that the RSI has been "riding the bottom" for a while and the MACD is about to make a turn. Let's see if belief, conviction and self-study are properly being monetized. Monetize your own knowledge!!

I think the after this trade the one thing I will have learned the most is that I probably got into this trade a little early. However, being early I can also add. And adding goes both ways when all is said and done ;)