I posted some targets for this vehicle in the chat room the other day but missed one that could have immediate relevance: 48.53.  Notice in the  weekly chart how last week’s high fell just 13 cents shy of the target.  That’s close enough, and the target has been long enough in coming, that we should be prepared for a significant pullback — one lasting perhaps 2 to 3 weeks. If the pullback turns out to be small stuff, however, and GDX pushes above 48.53, we would infer it’s headed for at least 52.14, the ‘D’ target that results when you slide down to the one-off low at 17.59 recorded last November.