It's a decision time for SPX. Path_1 would be the index is reaching possible B top and head down to test the low again for C wave, Path_2 would be retrace about 50-60% for 1-2 down and head up. This path would create an Inverse H&S shown in pink circle. Path_3 would be a more complex triangle 4th.
A lot of people are bullish in Oil just like a lot of people were bearish when Oil was over $140 and Bearish when Oil was down a year ago.
You have to look at your chart and trade when you are confident.
I was confident in Late march and in November.
Right now, I prefer to stay aside and wait for the fog to clear. IF it is bullish, there will be plenty of chance...
Risk vs Reward alert is good here as long as the support zone holds.
GDX broke out of the down trend line / resistance zone, and pulling back to test the zone again.
In EW cycles, GDX looks to be forming micro 3 - 4.