The miners have now joined gold and silver at new all time highs. (Well silver isn’t at all time highs but it is at bull market highs.) The entire precious metal complex is now trading in a vacuum with no overhead resistance. This is the only sector in the world that can make this boast.
Needless to say this is a very bullish configuration and one that should lead to massive gains the next 6 months as the dollar collapses down into its 3 year cycle low.
The risk now isn’t that we may get a pull back, although we certainly could. No, the risk is that the miners may never trade back below the breakout level again for the duration of this bull market.
Anyone waiting on a pull back to enter runs the risk of missing the entire move because they couldn’t adjust their thinking from trading range mode to break out mode.