[GDXJ] update

In the backlink I presented the mode below which essentially said, one more small wave up to complete a motive wave followed by a corrective wave followed by liftoff.  I gave red and blue models for this.  Red said "tiny move up before retracement" whereas blue said "need the full 5th wave up before retracement"



Per actual below, the blue path seems to have been taken even if the retracement was lower than expected.  Because of the spike higher before the reversal, the move up from the 27th counts impulsive and the deep vee pullback since then counts corrective.



So let's step back to look at the big picture.  First off, I use several different computers to build charts with.  Each is running TDAmeritrade StrategyDesk which allows you to draw lines on the charts.  The green wave lines coming down from early June were drawn back then and I have not used this computer since.  It's cool to me to see just how closely the actual chart followed the shape of the model even if the timeline wasn't spot on.

In any case the current setup is very high odds of being 1-2-1-2.  This means that we are now moving up in what is 90% likely to be a 3rd of a 3rd.  Expect all miners to nose up and then kick in the after burners.  For example, JNUG will likely double within the next 3 weeks.

Because of the chart setup here, stops on this model are easy.  1 penny below black 2 (or is JNUG equivalent) is a sell signal and then wait for the next EW defined entry.

Long term positions can and should be started in ABX, GG and the other majors or just GDX if you believe in the system and don't think an ETF manager would ever try to rip you off.

This is a very uncommon setup folks.  Time to put serious chips on the table.