Today's action kicked it off IMO by breaking down the lower rail with gusto. In other words, the down sloping blue path above is now the primary count. Again, I could see Yellen raising rates thus leading to a final panic in gold and miners only to find out that the rising rates ends up causing the washout bottom in miners. Some people apparently believe that all miners will go BK.
Folks, if this wave count gets to $5ish in 5 clear waves then all I can say is that it is time to make the most significant long term bullish bet of your life on M+M. This is a once in a lifetime setup. You don't have to go with JNUG. GDXJ is what I recommend for most people. Better still, buy a basket of miners directly and then tell your broker you want the stock certificates.
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