This is interesting because gold mining companies were actually one of the strongest sectors of the market in August. GDX made gains of around 30 percent or more in August, but we have seen a decline since then .

"GDX" fell in recent days by 4% at the end of August, by another 1.5% on the last day of August , and by about 4% on the first of September.

Watch the source12:19

Older record

09-05

Steve MillerPublished 2026-09-05

“askSlim Market Week "Live"”

$GDXBullish

GDX forming higher low flag; expected to rally to 105 (short-term) and 118 (intermediate-term) if current low holds.

we can do GDX. Of course, we have GDX on the weekly chart. Uh there is a low that formed, rallied, and is now forming that higher low flag. uh as we speak here. Let me see if I can get this drawing tool to work.

This higher low flag that is actually forming here. And we're going to be looking for this to then turn its way back to the upside through the uh the 786 at 107. Hit the old high reasonable at about 118 on the intermediate term.

Shortterm a low that that has been due. We're looking for this to form a higher low here uh and then turn its way back up towards the 105 area on the upside. Obviously, if it loses this low here, that would invalidate that bullish thesis in the short term.

What they said to watch for

price action relative to the current low

Watch the source27:44

Older record

09-04

Steve MillerPublished 2026-09-04

“askSlim Market Week 09/04/26 - Analysis of Financial Markets”

$GDXBullish

GDX expected to form a higher low and rally toward 105; bullish thesis invalid if current low is lost.

the next one that I have. I don't have all these, but uh we can do GDX. Of course, we have GDX on the weekly chart. Uh there is a low that formed, rallied, and is now forming that higher low flag uh as we speak here.

Let me see if I can get this drawing tool to work. this higher low flag that is actually forming here. And we're going to be looking for this to then turn its way back to the upside through the uh the 786 at 107, hit the old high, reasonable at about 118 on the intermediate term short-term, a low that has been due.

Looking for this to form a higher low here uh and then turn its way back up towards the 105 area on the upside. Obviously, if it loses this low here, that would invalidate that bullish thesis in the short term.

What they said to watch for

price action relative to the forming higher low

Watch the source27:23

Older record

09-01

Verified InvestingPublished 2026-09-01

“Yields Spike Triggering Investor Fear, Gold Slammed Again, Oil Potential Breakout On Tanker Strikes”

$GDXBearish

GDX miners are shorted; current price is above the preferred entry level of ~9265, so no long position is taken yet.

And again, just last week, I was telling you guys, short the miners. The miners are at a Fibonacci retrace 618, the GDX.

Watch the source13:06

Older record

08-27

Verified InvestingPublished 2026-08-27

“Bull Market SURGE As Nvidia, Salesforce and Crowdstrike BLAST! Watch For This Mega Money Rotation”

$GDXBearish

GDX will correct in the short term due to capital rotation from miners to semiconductors/AI.

And my thesis was that gold miners were seeing a lot of retail investment because you get a bigger bang for your buck. When gold goes up 1%, the miners usually go up 2%. And ultimately, I thought those got ahead of themselves.

Watch the source03:19

Older record

08-26

ElliottWaveTraderPublished 2026-08-26

“Avi’s Market Minute - August 26th 2026: Update on Gold, Silver & GDX”

$GDXBearish

GDX has likely topped in a five-wave structure; a deep wave two pullback is possible but not probable, and the bias is bearish.

This is GDX on the bigger degree. I mean clearly we have more than enough waves in place right now for this to have considered topped in a five-wave structure. Now, can that five-wave structure be a C wave of this alt B wave?

Absolutely and it could and point us down it. But I got to tell you it's possible. Just don't think it's probable because in order for this to be a five-wave C wave you have to view this as the A wave bottom here, then you have an A, very unusual B wave and then a C wave rally?

I mean, you [snorts] know, we see expanded flats, you know, every now and then. But I got to tell you this one would be extraordinarily unusual. For that reason I'm I'm viewing this as wave one of wave five.

We Yes, we could see a deep wave two believe it or not because there are quite a number of individual mining stocks that are strongly suggestive of those in lower lows. Um, I don't think GDX is necessarily um, strongly suggestive of that.

Like I said, you could see a deep wave two but I I'm I'm not strongly indicative um, of uh, I don't think it's strongly indicative of of a uh, of anything more than just a deep wave two.

What they said to watch for

GDX price breaking below the 236 retracement level

Watch the source00:01

Older record

Drawbridge FinancePublished 2026-08-26

“Livestream Tuesday Aug 25th 11:00am PST (2:00pm EST)”

$GDXBearish

GDX is expected to decline toward the $88-$90 zone in the coming weeks, making a bearish options trade attractive.

So, GDX, uh, I talked about gold feeling like it's powering out here. What if I wanted to put on a a a lowrisk trade to the downside over the next little while? Say I thought that um we were going to see a down tick and I'm looking at this chart and I'm saying, okay, you know, the stock is trading at $104.

You can see this over here on the on the left on Mumu. Uh, the prices are here. Um, what if what if I wanted to target a level down here, $88 or $90. What if I expected it to pull back to this kind of centralized centralized area right here where we saw a cluster of data on the way up these gaps kind of paused here.

So I think this would be natural for this to come back down and we might see this over the next couple of weeks.

Watch the source13:03

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