GDX update April 10

The advance of GDX has been rather messy we must admit and not as clean as we’d like to see. Hence, we switched to a line plot -as closing prices reduce noise. We then have tried to count the advance to the best of our ability, adding Fib-extensions to the mix. What we then get is a reasonable well looking subdividing 3rd wave, believe it or not. We expect (green) minor 3 of intermediate iii of major 1/a to hit the $22.50ish level. A retrace back to $20ish level for minor 4, and then intermediate iii to low $23ish. That’s as far as we want to look ahead for now, but we feel we have a better grip on this ticker for now. Until proven otherwise, of course