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Monday, May 18, 2015

[JNUG] [GDXJ] update

At the backlink I worried about 5 waves up looking like a rising wedge.  We got that 5th wave unicorn horn and then back down into the channel.  Nothing has changed since then.  It's not good, all this inability to break back up and out.  Use stops.  Mine are at $25.40 on JNUG.

All we get is odds and triggers folks.  Gotta take what we get.  But I think a 3 wave move back down to the 38.2 fib would quickly reverse and head much higher as shown.  At the same time, a gap up above that top rail to a higher high would likely mean the bull is charging back up into the 40s for GDXJ.


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2 comments:

  1. AnonymousMay 19, 2015 at 8:41 AM

    And third stop-out of JNUG at 24.3 ... what the hell is going on today?!

    ReplyDelete
  2. The CaptainMay 19, 2015 at 9:03 AM

    Whats going on is a shake out. Step back and take a breath. Its always darkest before the dawn. Walk away for a day or two if its getting to you. Being upset is a good sign that you are in too deep so you might want to consider lightening up on your bets until the ticker starts going in your direction again.

    ReplyDelete

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