UUP 60 minute March 27th
GDX/NUGT is currently trading slightly below the resistance level where I posted a long entry yesterday but I’m not yet concerned at this point. The expected bounce in the dollar continued into today so far but my expectation is for a resumption of the near-term downtrend anywhere from current levels up to that downtrend line not far overhead. I expect the reversal to come today, no later than Monday.
note: I wrapped up a video overview of the near-term & longer-term outlook for the US equity markets which should be published shortly.