VanEck Gold Miners ETF
Investment Thesis
GDX has fallen ~25% from its 52-week high in just two weeks, driving RSI to near-oversold (30.3) and the GDX/SPY relative-strength RSI to an extreme 19.68 — a historically rare capitulation reading — while price still holds above the critical 200-day MA ($81.81). A mean-reversion bounce back toward the 50-day MA (~$97) is the high-probability setup here.
Catalysts to Watch
GDX collapsed from ~$102 (Apr 17 high) to $86.22 in 9 trading days (-15.6%), extending its total drawdown from the 52-week high of $115.84 to -25.6%. RSI(14) hit 30.3 and the GDX/SPY ratio RSI dropped to 19.68 — deep into extreme-oversold territory on both absolute and relative bases.
Why It May Work
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Timeline
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