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Another Golden Hammer on the Miners


It's a Monday and we're seeing another golden hammer, with gold down 0.8% at $1312.70.

Last Wednesday, gold and the miners had a breakaway gap to the downside followed by a sharp rebound on Thursday when GDXJ backtested its overhead 20 day moving average:


Today's gap down looks like the second cheese will get the mouse for those looking for a more pronounced pullback.

Click here to learn about how Jeff is crushing the market in the Daily Market Report.