GDXJ spent the week in an unpersuasive bounce from a voodoo number touched the previous week. An outside day on Wednesday that closed near the intraday low added to a mildly troubling picture, one that portends minimum downside over the near term to at least p=33.35 (see inset chart). Any slippage beneath that Hidden Pivot would of course open a path down to as low as 31.52. If we do any bottom-fishing, it should be at either p or p2=32.44.
GDXJ – Junior Gold Miner ETF (Last:34.13)