In summary, the line of least resistance is still to the upside. After getting to all time highs a week ago, the market has lost some of its mojo this week. The overbought conditions are slowly beginning to take a toll.

SP- 500 support is at this week's lows around 4120, with stronger support just below the March highs, and the major support at 3870. If 4000 is penetrated that would be a short term negative, and if 3870 is penetrated that would be a major change of trend.

GDX - monthly view

  Now fiscal and monetary stimulus as well as negative sentiment could be potentially bullish for the metal.

This new commodities bull market began in April of 2020. Confirmation occurred this January of 2021. Typically, cyclical bull market will last seven to nine years. Secular bull market will lasta 20+ years.

"Criticizing a musician is easy, but it is more difficult when you have a guitar in your hand."

When you think about holding, remember, leading stocks that topped in 1974 didn't get back to breakeven for 24 years. Many of the leading stocks that topped in  2000 took 15-20 years to get back to breakeven. Think about it!