It's crunch time for ABX and all of the miners. In the backlink I worried that the next big move could be down. Below is the model from that post.
If I counted that correctly we should be seeing more downward acceleration right now. So far, the ABX 120 minute chart below visually appears to be more of a corrective retracement than the start of a new motive wave down. Of course it's still early. But I always consider that a 3 wave move to the level of the prior 4th is a likely retracement and that is what the most recent action is looking like. Be careful JDSTers, this could gap up soon.
Wednesday, May 6, 2015
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