Here is the GDX Rocky Horror Picture Chart

Probably one of the most Potentially Perfect Bearish Chartology Patterns one could see

A textbook H and S…IF it breaks Down below RIGHT Here

gdx-horror

So what’ll it be .

1 a Bounce then breakdown

2..blow right thru the line and then reverse soon after for a classic false breakdown to trap the bears ?

3..a breakdown now followed by a hope rally retest of the line then bombs away

4…a Bounce then keep on moving up to negate this Beast.

Sheesh…we were mostly believing a Trump Victory would be Bullish for Gold..as it creates uncertainty

Well that was a good thesis for all of 6 hours.

Now it appears to be Bullish for all Metals EXCEPT Gold !

Is the Joke is on US ?

Nah…we are OK..we are chart watchers..One Strategy

If the line holds in the morning buy HGU.to and hold until that line goes…that’s a tight leash

….if it then goes Go to HGD.to and hedge positions until they can be closed if we don’t recover in a few days.

I don’t recommend DUST and NUGT but that’s just my miserable experience with these talking

Shoot the messenger if you want but this chart is SCARY