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The following daily chart shows my dilemma… Did we finish the (iii) today which is only 5 cents from my target… The inset shows the more detailed count on the 2HR Chart… on the 2HR I just can’t quite get to today’s low in 5 waves… Well there it is, I think we have a little more downside to go before we head up to the 18.21-18.79 area in a (iv). The US Dollar is up in futures tonight (currently at 96.98) which tells me we have some more downside on GDX. The EWO on the GDX 2HR chart is telling me we have at least one more low; however, today’s peak with a lower price did not exceed the last peak… it was almost dead even. Although I’ve seen price action go both ways when this happens, the odds favor more downside!!! Tomorrows price action will be important….
Looks like iv) has topped out at 16.94… down we go to (iii)…. my guess right now i)=iv) target would be around 15.86 although 62% of that would satisfy the move…. wait and watch….
NUGT indicators have turned down…
Trigger line crosses to upside on JDST although the RSI(5) still needs to cross the blue line for confirmation…. ULT (leading indicator) still pointed down which means that JDST is still “thinking” although it has moved off its lows…