I’ve relabeled the count (moved all counts up one degree) and have updated the near term target (a=c target 9.50).  This new count is more in line with Fully and Mark’s expectations (although we have been talking GDX)… The larger 4 pullback that I’m expecting may be yet to come …

0716_JDSTEOD

If this count proves correct then the immediate pullback for GDX may only be to the 16.83 area.