GDX came right up to the resistance region I'd highlighted, touching the 3.236 extension off the low. Further extensions of my primary count for green minor wave 1 did not materialize. Keep the bluish alt 1-2 count in mind, especially if 21.42 is taken out strongly. Anything near the 17-handle would be a gift imo, though a decline into this region will need to be monitored for signs of weakness on smaller timeframes. At this point, all declines have held corrective support.
Miners have set up for a bullish run off the lows, with many individual names already showing signs of powerful 3rd waves. I am NOT going to short this complex. Over last week's high, I'd recommend having at least some exposure to these miners who, imo, are set up to outperform precious metals IF a significant lasting bottom is confirmed. I've started loading up on individual names within this index, and some juniors too.
Miners have set up for a bullish run off the lows, with many individual names already showing signs of powerful 3rd waves. I am NOT going to short this complex. Over last week's high, I'd recommend having at least some exposure to these miners who, imo, are set up to outperform precious metals IF a significant lasting bottom is confirmed. I've started loading up on individual names within this index, and some juniors too.