75 5 0
Potential b-wave rally. Buying opportunity long on next decline for potential purple wave ii count. Breakout over previous high most likely points to a strong 3-rd wave although there's an outside chance of an expanded flat correction where the b-wave makes a higher high before further (and higher) consolidation.
Looks like (b) is a flat? I agree if gdx make a new high soon, we should be in a wave 3. Thanks for sharing this good count.
Could be that wave (b) completed this morning. Get GDX under 24.25 and I'll be more confident.
nick.holland78 nick.holland78
Correction, 24.15
Excellent assessment Nick! Which of the EW assessments do you favor? ii or C down next? Thank you for your input in this forum!
tmedcalf, I'd prefer a lower wave 2, but price will tell the story. One could buy the wave ii box, then trail stops should price break down. At this point, a strong rally to new highs would be a very bullish sign. Could see 40s in coming months.
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