Bulls remain well on-track to hit the 41.17 target of the rABC pattern shown (see inset), powering an ascent that has been too steep to afford us a handhold for a ‘mechanical’ buy on the daily chart. A pullback to p=33.49 early in the week would trigger one (with a stop at 30.93), but it would be riskier than bottom-fishing a steeper dive to x=29.64. You can try either, but I am recommending the red-line play only to those with the ‘camouflage’ chops to cut the theoretical entry risk on four round lots from $1,024 to no more than $200.
GDXJ – Junior Gold Miner ETF (Last:35.70)