Although last week’s high at 47.25 fell well shy of the 49.02 Hidden Pivot target I’d identified, the chart shows more promise and potential than that of gold itself. GDXJ became a theoretical ‘mechanical’ buy when it touched the red line (p=44.52) Thursday on the way down, but I’d suggest waiting for the correction to hit x=42.20 before attempting to bottom-fish. FYI, the stop-loss for the red-line ‘mechanical’ buy that has already triggered would be at 42.97, but I am not recommending this trade because I expect this junior-miner proxy to trade lower.
GDXJ – Junior Gold Miner ETF (Last:44.60)