Pre-Weekend Update - Market Analysis on Mar 10th, 2017

While the market has formed a "bottom" within the region we wanted to see it this week, we are in no way out of the woods.  In order for us to begin a bullish trend, the GDX will need to rally towards the green (I) noted on my chart to complete an initial 5 waves up.  Until such time, I will still protect my portfolio with protective puts.

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