GDXJ officially broke out of it’s bear market downtrend channel last month on a huge increase in volume. The number of shares traded was around 130 million which is approximately 50% or so higher than the previous record volume. The next stop for GDXJ should be 50, where it might take a little time to overcome the resistance from the selloff in 2013 in gold stocks. But this type of accumulation makes it very likely the gold bear market has now ended and a new bull market has begun.