$GDX - Market Analysis for Jan 2nd, 2019

As long as GDX remains below the high made this morning, near-term downside to fill out red wave iii of (c) remains expected. However, any break back above today's high makes downside follow through much less likely, and opens the door to a new swing high as blue wave (v) of c.

GDX - Micro - Jan-02 1111 AM (1 hour)
GDX - Micro - Jan-02 1111 AM (1 hour)
Garrett Patten is a senior analyst at ElliottWaveTrader covering both U.S. and international equity indices as well as stocks.