BUZZ-Gaming ETF still slotted in bear-trend channel

(Corrects story link in 1st bullet)

** Market Vectors Gaming ETF chart suggests new lows coming in early 2016 given its near 2-year run of lower peaks and troughs remains firmly in place

** Since peaking in early 2014, BJK has been a bad bet losing 46 pct amid poor industry fundamentals and a devastating slow-down in Macau gambling revenue

** Although BJK is still above its late Sep low, prevailing bear trend channel remains intact. Chart: http://reut.rs/1MTRgQJ

** 40-WMA and channel resistance capped choppy spring/summer recovery leading to new lows

** Fall 2015 snap back also failed shy of this resistance, leading to fresh weakness

** Weekly MACD now rolling over again, and once $29.16 gives way, ETF can fall to $25.63 and below

** Strength should still be counter-trend, but weekly close above $34.50/$34.76 would penetrate resistance and break pattern of declining peaks

** Top holdings by pct TNA end-of-Nov include Las Vegas Sands Corp, Sands China (HKSE: 1928-OL.HK - news) , Galaxy Entertainment (Other OTC: GXYEY - news) Group, Paddy Power (LSE: PAP.L - news) , and WYNN Resorts (NasdaqGS: WYNN - news) (Messaging: terence.gabriel.tr.com@reuters.net)