Miners’ rally failed, gold’s upward momentum is broken, and the USDX appears to have bottomed. Very interesting times ahead! Let’s start today’s discussion with GDXJ’s short-term charts, as that’s where we see the most interesting action. While the recent rally might have seemed like a big deal, in reality… Junior mining stocks simply verified their breakdown below the rising, black resistance line. And it happened in perfect tune with the sizes of rallies that we saw after the previous negative surprises from the nonfarm payrolls (marked with vertical, dashed lines). This means that the top is very likely in. ... (full story)