At this point there's no significant difference in the green and red interpretations. Both assume a correction is about to complete. The potential upside in wave (3) is massive, ~200% unleveraged from the GDX 21 region.
@nick.holland78, WE still needs to see a iv bounce, and it better be a good one. I believe in a red B now, just not sure if it will go that high. The macd on the weekly is bearish :( . Just hope things will turn around soon and that we get a strong wave iv.
@Jv200909., With the cir-iv overlapping cir-i, a completion of the correction right here can only count as an ending diagonal. Could be more squiggles, sure. Could take a few more days. Also possible that the ED completes and rips higher. Indices are a good example of that recently. Can quibble about just how to sub-divide the completed counts but no question that the correction completed on those.
@Jv200909., May well see a small iv-v, but also possible this thing wraps up outside RTH and reverses hard. Better to layer in if you are trying to catch the bottom. Or, if less aggressive, wait for an impulsive rally to suggest it's turned. Personally, I find I'm too hesitant to buy when the rally starts as I start placing bids too far below price. Then it'll be in the heart of the 3rd and I'm watching...saying to myself, "Saw it coming" and didn't take the trade...
Overnight AH price action (not shown) looks like a possible 5-down for green (i). Here with only RTH looks like 3-down for (a) of cir-b or white cir-ii. Ambiguity continues. Holding support and taking out the recent high would be highly suggestive of a bounce in at least red B. Could turn into white cir-v of yellow 5 of (1). Clear? Yeah, not to me either.