AMEX:GDX   VANECK VECTORS GOLD MINERS ETF
27 6 0
Critical junction for GDX             . Either it turns up for OMH, or continues lower in a correction off 20.87. A break below 18.82 suggests wave ii target in 17s will be reached.

Bulls, take at least partial profits on a 3-wave             rally, anything above 20.85. This is an Ending Diagonal if it plays out. EDs reverse hard to their starting point - or beyond - upon completion.

Bears, beware of possibility for OMH in short term. Take at least partial profits below 18.85 as the primary trend right now is bullish . Countertrend trades after such a strong rally are risky, and retraces on miners might be shallow (observe earlier rally this year).

Long term investors, buy any 3-wave             retrace into the blue wave ii box. Don't hold out for a 61.8 retrace as a correction may not reach nearly that low. Could be as shallow as the mid-17s, even 23.6% area at 18.85. Confirmation of the bottom comes with a retrace for ii, then taking out the wave i high strongly.
Who could have seen that move coming...?
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Last post was supposed to be a GDX chart. Trying again...
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Same on GDX. Likely going to tip it's hand late today. I've seen GDX confirm or invalidate a count right near the close many times. I don't recommend a new position here; better entries are short from higher target, or better yet long from wave ii.
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Right on the edge here. Monitor positions closely. Trail stops on shorts as a snap-up could be quick. I'm holding a manual stop on NUGT long mentioned earlier.
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NUGT traders, do NOT follow me on this trade unless you are very nimble. May not be able to hold through settlement. Trail stops loosely to protect gains if this starts going our way. Can reverse VERY quickly on completion of the Ending Diagonal...even possibly overnight once target region is within reach.
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My apologies, recent low was 18.81, not 18.82...makes no difference unless trading very small timeframes.
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