Originally posted at Capitalstool.
As for the yellow relic, I just hope that what’s going on on this chart for the past 2 1/2 years is a high base and not an epochal top. But there’s absolutely nothing here that says this won’t break down. The path of least resistance is down until that support line is tested, holds, and generates a powerful upthrust. If those things don’t happen, kiss this goodbye. The measured move target of a breakdown would be 1350.
As for the miners, not a good look. The GDX needs to get back above 25.45 by next week or its curtains. Curtains! I tell ya!
