as i mentioned yesterday, I am now leaning towards miners dropping into a larger wave 2 correction pull back after seeing that it completed 5 waves off the low since the FOMC news.
the expectation is a pull back down to the 22 area in the coming days or 1-2 week time frame.
alt count, cant rule out there can still be one more smaller wave towards a higher high (orange)
I have since scaled back and taken my profit on 2/3 positions in Jnug. will attempt to either do nothing or buy back when gdx hits the low 22s
edit: I also suggested the gold needs to break below 1244 to begin a similar sell off, however over night it rallied off 1244.10 to remain bullish in the short term. if gold doesnt crack soon, this may still hold miners up (bull trap?)
not expecting miners will make any leaps to the upside, due to the count I posted.
Last edited by SilverRex; 03-23-2017 at 07:00 AM.
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