According to BeInCrypto, nearly 92% of stocks within the VanEck Gold Miners ETF (GDX) are currently trading below their 50-day moving average. This level of distribution occurred most recently in late July, shortly after miners achieved a record month of performance. The current reading emerged days before the Federal Reserve’s scheduled Wednesday decision on interest rates, with market participants continuing to price in the possibility of at least one rate hike this year.
