Mike's Mid Day Minute is available to members on Monday, Wednesday & Friday evenings, with one article per week available to non-members. Members please login and see "Mike's Mid Day Minute" in the navigation menu towards the top of the page.

NUGT Continues to Play Catch-Up in an Otherwise Challenged, End-Year Equity-Market Trade


After satisfying our Swing Target of 7.00 off of the 12.15 Dec 20 lows (5.55-5.51), which represented a very important objective, the ability of the Direxion Daily Gold Miners Bull 3X ETF (NUGT) to hurdle and to sustain above 7.00 argues that a more important, more powerful recovery rally is in progress, that points next to a confrontation with NUGT's Dec resistance line, which cuts across the price axis in the vicinity of 7.90 this morning.

A sustained, upside penetration of the resistance line will exhibit additional evidence that NUGT and The Miners are in the grasp of an incomplete, powerful, recovery-rally period that has as its next target zone 8.60-9.25.

  • Action-Oriented Trade Set-Ups in Stocks & ETFs
  • Macro Analysis of the Broader Markets
  • Detailed Technical Guidance for each Trading Idea
  • Live Interaction w/ Mike & Our Member Community
  • And Much, Much More!
Join Now! - Special Offer!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!