[ABX] still looks corrective

At the backlink I worry that the recent move on ABX could still be corrective.  It will likely break out that top rail before it's done running but then the question will be, does it immediately fall back into the channel and form a 4th wave wedge or does it take off back up into the $20 range.

Unfortunately I'm leaning heavily toward the breakdown and if ABX goes down it will not be doing so alone. 

At the same time, this move would completely F--- up EWI's bearish gold count IMO and it would put strong emphasis on Avi's count which is that a bottom in the 95-105 range for GLD would be a real bottom as 10+ year bull market to follow.  So, a final collapse here would be short term pain but set the M+M up for long term gains.  Again, I'd like to see GDXJ at $18 or thereabouts and that would represent a 90% collapse from the peak.  That's where these things often end before reversing.  The DJIA crash of 29-32 was an 89.49% drop from 1929 peak to to 1932 valley.

And then they debased the currency and the markets took off again...