Building a Golden IHS

Symbol:
GDX

Opportunity:

This is an update to our Miner's Coverage List.

So far a nice strong turn this AM as potential start to the (iii) of circle i of a new wave 1 of (3) in GC, but it can still be just a b of a slightly deeper (ii). I want to see the rest of a (iii)-(iv)-(v) of circle i up into early Aug and then a fade as ii to fill out the rest of an IHS (purple). This setup the powerful circle iii of 1 back up to the region of prior highs (1370) and then ideally we get a iv-v of 1 to 1400 region into EOY.

I think GDX can be working on a small LD for (i) of the blue circle iii in wave 1 of (3) also for names in the white/blue camps (like AEM for example) or 3 of (1) for names (like ABX) in the orange camp.

QGC# - Alternate 1 - Jul-05 0835 AM (1 hour)
QGC# - Alternate 1 - Jul-05 0835 AM (1 hour)
GDX - Primary Analysis - Jul-05 0836 AM (1 hour)
GDX - Primary Analysis - Jul-05 0836 AM (1 hour)
GDX - Big Macro Clean - Jul-05 0840 AM (1 day)
GDX - Big Macro Clean - Jul-05 0840 AM (1 day)
QGC# - Alternate 1 - Jul-05 0836 AM (4 hour)
QGC# - Alternate 1 - Jul-05 0836 AM (4 hour)
ABX - Primary Analysis - Jul-05 0842 AM (4 hour)
ABX - Primary Analysis - Jul-05 0842 AM (4 hour)
AEM - Primary Analysis - Jul-05 0843 AM (4 hour)
AEM - Primary Analysis - Jul-05 0843 AM (4 hour)
Zac Mannes is a senior analyst at ElliottWaveTrader.net and co-host of the site's Stock Waves service, which provides wave alerts and trade set-ups on individual stocks.