NFTRH has had several themes in play on the gold stocks. One was the potential for a ‘W’ bottom, which has been obviously negated. The other is a bottoming pattern with a target off an Inverted Head & Shoulders, which could serve to flush the remaining holdouts as it makes a ‘Head’ at a target significantly lower. These were in consideration of weekly MACD and TRIX up triggers. The two bottoming patterns would be ultimately bullish after differing degrees of pain, but other prospects are really disgusting and are also in play.
One theme has been for a break of the long term trend line that every chart geek and his brother is watching, and there it goes. This would inspire a panic, a final flush that would be needed to end or suspend the bear.