VanEck Gold Miners ETF
Investment Thesis
GDX confirmed a Death Cross and is trading 10% below its 200-day MA after a sharp 15% rejection from the $90 area highs. A bounce into the $83–87 resistance cluster (50-day + 200-day MA overhead) provides a technically clean short entry, with the GDX/SPY ratio corroborating structural underperformance against the broad market.
Catalysts to Watch
Death Cross confirmed (50-day MA at $85.37 crossed below 200-day MA at $87.48) while GDX rejected sharply from $89.99 on June 17, losing ~15% in under three weeks; simultaneously, the GDX/SPY relative-strength ratio broke below both its 50-day and 200-day SMAs, putting miners in structural underperformance.
Why It May Work
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Timeline
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