Loading ...GDX “charting sans chart”
I’m “reading” off my (non EW) charts here. My interpretation put into EW language. FWIW.
Major top behind us.
IT fib retrace move coming into focus. Next week for low?
Likely a 2/B wave ahead. Favoring the 2. (expecting basic abc upwards correction)
Locally, this looks like the c of iv (of 1/A down). (Test of R @ 31.32ish?)
Ahead of v down to finish initial decline for 1/B (<30).
NTA and GL.
Thanks for this sir Pedro, I completely agree, sold my dust/jdst last week after a month hold. Bought NUGT/JNUG last week for a two week trade. It’s up for two weeks and then the final correction comes. Fireworks in the fall? Who knows at this point….can the S/P fall 600 pts in eight weeks? If it does gold stock straight down with it, what an opportunity the summer May hold.
Spike got to 31.25, just shy of my stated chart target.
TOS puts R at 31.27. So very close.
Drop seems likely to be micro iv of c (of larger iv), so micro v of c up seems likely to make one more high.
Curiously, I’m getting a major sell signal for RINF, a re inflation ETF.
I don’t usually pay much attention to it, but I spotted it so I’ll just mention it. $4T more, but sell the news?