Gold Miners ETF (GDX)

[123tom]

If I were invested in GDX, I would be getting very nervous from this point on, as GDX enters the Downtrend channel zone , between the 50 and 200 ma, and the wave structure looks like 5 waves will be complete in this zone. even if it stretches a little towards the 200ma..... How can you not expect to see the short attackers try to hammer GDX some time soon. If they don't, they will be leaving the whole down trend bearish wave open to reversing . and that would mark the beginning of a major trend reversal for miners, the bottom we have all been waiting for.

Would the bears just decide to step aside right now, and give up the game that's been going on for at least a year, or two, or three? without even a fight? that is not logical.
It will be very interesting to watch this next major battle between the 'bears' and 'bulls' and we shouldn't have to wait too long for the action to commence.