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SmarTrend Watching for Potential Rebound in Shares of Market Vectors - Gold Miners ETF After 1.19% Loss

By Nick Russo

Market Vectors - Gold Miners ETF (AMEX:GDX) traded in a range yesterday that spanned from a low of $22.20 to a high of $22.77. Yesterday, the shares fell 1.2%, which took the trading range below the 3-day low of $22.58 on volume of 19.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend is monitoring the recent change of momentum in Market Vectors - Gold Miners ETF. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Market Vectors - Gold Miners ETF in search of a potential trend change.

Over the past year, Market Vectors - Gold Miners ETF has traded in a range of $12.40 to $31.79 and is now at $22.29, 80% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 1.2% while the 50-day MA has advanced 2.2%.

Keywords: rebounders amex:gdx market vectors - gold miners etf

Ticker(s): GDX