[GDXJ] update

Short term, GDXJ chart looks like what I hoped for in the backlink  I wrote, "The best thing for longs would not be to have a pullback to test that green rail from above and then reverse back upward per the red model.  If this happens it should show some break way gusto in order to convince the herd that a new direction has been selected and that everyone should adjust to it."

Thursday's chart did a back test and then struggled back above the support line.  While I continue to model the next move as being upward, I caution about having too much short term optimism here yet because this looks like a big fat triangle of some kind and if that is the case then something like the red path could transpire.  The only other thing I think it could be would be the 1-2, 1-2 stutter step.  But if that is the case we really have to see a big gap up very, very soon.  So to be fair, I really don't see the wave count here right now yet I still own JNUG - a violation of one of my own trading rules.  So any break below that lower rail from here and I'm going back to the sidelines.

If it were not for the support that USLV is finding at its 61.8 fib, I would be out of this trade already.  This just does not look motive enough!