The 30-week EMA on GDX is now rising again after briefly changing direction in early February. What is the significance of this? A rising market above a rising 30-week moving average is the definition of a Stage 2 uptrend or a bull market. So we’re once again at the cusp of a new bull market in gold stocks. Notice how the money flow didn’t go negative on this latest failed breakdown in GDX either. As I’ve stated earlier I think this has failed move lower to fast move higher written all over it.