Hmmm. Metals and miners from the JDST perspective tells a different story...

Here is a post from earlier today regarding metals and miners from the perspective of JNUG.  Next day trading has not begun yet but upon looking at it from another angle, I'm wondering if I got that one 100% wrong already.

Specifically, from the JDST perspective, it seems JDST has put in an A and a B (triangle), thus ready to break down hard.  If so, then JNUG has already put in 1 of 5 down and that triangle is the B wave of a coming upward retracement into wave 2.  It has been stalling a long time and so it should move quickly when it does move, perhaps as hard and fast as it did for the A wave up.

Back in this Oct 7 post I correctly identified that a JDST sell off was coming. That post predicted a fall all the way to the bottom of the rising wedge, something which has not occurred yet.  These triple junior miner ETFs are super volatile so a monster pullback should not be unexpected.

But if we see this play out real soon (next week?), don't be afraid to buy when you see 5 waves down that collapse into the red zone below.  Sorry about the earlier JNUG post but as a rule I never pull them once they go live.  People might get the idea that I am revising the blog history in order to save face and of course, I don't care about that.  Such thoughts are for con men.  If I'm wrong, I'm wrong.  That's what stops are for.  It is very rare that I would reverse myself like this so soon after a post but that is the value of looking at the trade from both sides of the coin and also from other odd angles that have given me better high level perspective in the past.

One thing to consider here: M+M have been trading in phase with the broader markets.  In the short term this chart predicts M+M rally and then another wave down.  So be careful in the broader markets.  Watch the vee 2nd wave up.  That is not my primary count but now I have a quandry in the form of conflicting models so it puts me back on high alert about everything.