Charts Of The Week, Summer Doldrums, & 3 Miners Being Added To The Russell 3000 Next Friday

3 US mining stocks will be added to the Russell indices next Friday, I highlight all 3 and name the one that I like the most for a Russell Rebalance trade.

After a strong start to June, we are starting to see the summer doldrums set in across metals & miners. After reaching a new 52-week high last Friday, the GDX was down all four trading days this week:

GDX (Daily)

After an unusually strong May and start to June, it’s not shocking that we are getting a light volume retracement in producers and juniors. Earlier in the week I was asking myself whether gold was in for a stiff correction (10%+) or a more modest one, then I came across this excellent graphic from Goldman Sachs that helped me to answer my own question….