[GDXJ] short term threat

Backlink.  While it's not my current model, I did want to point out a potential short term threat with GDXJ (and therefore all M+M).  These seem to be rallying with the broader markets and selling with them too.  I think they will decouple but could swoon together on the next DJIA wave down.  The threat is that mid July through now gets treated as a big HT which is now in E wave throwover.

The bail out alarm is of course a fall back into the body of the HT.  It's just something to be aware of because it would result in Avi's expected lower low.  If there were to happen I could see a double bottom as shown or perhaps a new low into the 15s.  One thing we know for sure is that this will not go down forever and we also know when it is $50+ again people will be kicking themselves for not having seen it coming.

Happens every single time.

Decouple from the herding instinct and trust the chart.