The QQQQ remains within a base-like pattern that started at the end of the June.

The iShares Brazil ETF (EWZ) was up 2.5% through yesterday's close whereas the SPY was up 6.7%.

Current weakness in the Market Vectors Gold Mining ETF (AMEX: GDX) is forming a major, multi-month top.

Weakness into today's low at 113.80 represents a shallow correction of an initial upleg.

Mike Paulenoff notes that today's new recovery high looks like it could have been an upside breakout from a base-like pattern that resembles an "inverted head-and-shoulders."

The streetTRACKS Gold Shares (GLD) peaked on Tuesday at the top of its June-July price channel, and in the past 48 hours or so has traversed the channel to test its lower support line.

Only a decline that breaks below 43.85 will wreck the current near-term setup.

The US Oil Fund ETF (USO) plunged from around 118.50 to nearly 110.00.

The pattern carved out since July 1 in the QQQQ continues to exhibit lower-lows and lower-highs.

Is Gold (GLD) resting before a powerful upswing?