Folks we are very near the bottom of a sell off of historic relevance in metals and miners. Note how silver is not confirming the gold sell off today. GLD has just barely hit the top of Avi's 95-105 target that I have been pointing out for several months now as something to be aware of; it dipped down to 105.60 this morning. That might be all we are going to see or we could get another $5 loss but we are close to a major, major bottom here and the lower it crashes the stronger that bottom is going to be.
The comments above are reflected in the GDXJ model below. It has not quite hit my long standing potential target of $18 but that is just based on a rough guideline. It is possible to count today's dip as blue 5 but it is also possible to count it as wave 3 of blue 5. That big gap opens the possibility that it was 3 of 3 of 5. Regardless, we are now in the home stretch for this bear market. The volatility is stupid ridiculous at this point. They hate GDXJ at $18, they will love it again at $100.
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