10:54 am PST. GDXJ tried for the fourth time today to move above the 200sma, but still finding a lot of sellers. I think we just saw an interim high for the mining stocks and I expect to see a pullback to the 21sma at around 34.50, by Friday.

Bonds are also selling off, which is good for stocks. With gold and bonds pulling back, it is all clear now for the indices, Russell and XLF in particular, to make new highs.