GDX-Miners

If you have been paying attention to the South African gold and other metals, miners' strike which I haven't followed as closely as I should recently, I know the first company's negotiations ended up giving miners' who were striking about a 22% pay increase, of course other mines went on strike looking for the same treatment, I know at least one told their employees to go take a long walk off a short pier.

The point is, gold miners "USE" to lead the actual metal, not anymore. When putting together an automated trading system the two biggest factors were the price of oil (for operations) and the currency exchange rate as the fluctuations may make their wages very high vs the gold's value very low or the other way around.

In any case, we need to look more closely at miners, but a quick look at DUST, the Bear 3X Gold Miners or GDX, looks pretty solid as a long which wouldn't be good for GDX/miners.

Here's a sneak peak of a long term chart and the trend of a short term chart.

 This is the trend (5000 bars) of the 3 min chart, an obvious huge positive divergence meaning DUST is looking good as a long, although it seems to be building a base to launch that move from.

Longer term the 30 min. chart shows where DUST went negative and the confirmation of the move down, also a positive divergence (rather a series of them) at the same place the 3 min trend is showing them.

Something bad is happening to miners which is good for DUST longs.