This is an Oscillator of the Breadth in the PM Complex, that works much like the McClellan Oscillator's work in the DJ and Gen Market sectors, and from their work we know that the Breadth Supports or resists Advances. Here the Raw Data, in RED, has AGAIN decisively punched thru the BLUE moving Average, and the pronounced "W" pattern in the GDX is very apparent. IMO> this is a heads up to us to watch a PM Sector rally Climb the Wall of Worry, right into the New Year. So far it appears there is a lot of running room before it finds itself in "Over-Extended" territory, and should the $BPBDM, % of GDM Stocks in Bullish P & F Charts, tick upward, this cycle could re-cycle itself over and over until we reach a peak in the $BPGDM, which in Bull Runs has been in excess of 70+%. Right now it stands at just 10% and thus has a lot of room to run upwards. I think this is a major "Heads-Up".