Crunch time for the final wave down on [GDX]

Either red or blue from the backlink is in play.


Current snapshot is below.  The rising wedge throw over has now stalled and collapsed back into the channel but only in 3 waves so far, thus still leaving the blue head fake path open.  But if this bounces down to the lower rail and then back up in a small 3 wave retracement, we have to expect that the primary model in red below will play out.  It might not seem like much but that would be a 40% collapse in GDX from current prices so you really want to be disciplined and bail out if the lower rail of that rising wedge cannot hold.  But we are getting close folks, very close.  Worst case this should bottom mid January.  Best short term case is that it gaps above that top rail tomorrow and goes blue.  Red is the 75 25 fav IMO.