AMEX:GDX   VANECK VECTORS GOLD MINERS ETF
51 1 3
With GDX             breaking out over 22.30, I've altered the alt count for wave 1. This MAY still be a high b-wave fake-out rally, but can't be sure unless an impulsive pattern in c of 2 begins to form. A high consolidation with push higher into alt 1 region above 24 could allow for alt 2. Again, I will NOT short this complex, but am looking at long entries.
The most bullish interpretation is that wave a was all of wave 2, in which case the miners are set to explode higher. Gold             and silver             have similar set-ups, but don't seem ready to explode imo             .
Unless price carves out a (iv) - (v) pattern something like shown here, then this could well be a corrective rally in wave b of 2.
snapshot
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