I remain bullish GDX, and am building positions in several miners within the complex (not all necessarily held by the fund). This rally suggests a b-wave in green 2, and the 20.50 region (61.8% retrace) would be my minimum expectation. Even a new nominal high (over 21.42) in an expanded flat would not surprise given the bullish potential for this complex.
Drop into alt wave 2 target region did not play out (blue count).
Drop into alt wave 2 target region did not play out (blue count).