Addendum To Tonights Metals Update

I forgot to note that there is still "some" hope if the GDX does break out over 16.14.  At 16.42 we have an a=c within the current action, which is also the .764 retracement of the last move down from yesterday's high.  That would be the last level I would attempt a short if we go do up here without completing the next 5 down for 1 of iii.  Any short attempted up there can use a stop at yesterday's high.  So, we have two possible set ups for the market to head to lower lows right now.

GDX 8 min
GDX 8 min
Avi Gilburt is founder of ElliottWaveTrader.net.