Every time we have about three days of downtrend, you get one or two days of positive moves in the short trend.

The sector is meandering sideways.

We have a good short-term bounce here, but until we retest the 12,080 mark, we may see a bit of profit-taking coming in again because of the nervousness on the market.

Since gold prices are stuck in that range, gold-mining stocks are not going to move very much either.

Gold is not quite ready yet to move in the upward bias.

As the week progresses, we might see a bit of short-term strength with window-dressing before the end of the quarter.