Gold Miners ETF (GDX)

[dabonenose]

LOL, we seem to be the only ones debating here these days.

I love how you can call tops and bottoms almost by the spin the soothsayers put on the news so that they can engineer a correction(the manipulation discussion,,,lol).

If the GDX spikes today in my estimation it will be the beginning of its topping pattern to create the right shoulder of the cup and handle.

By the way, I measure the cup and handle as follows....

left shoulder 11/8/13-11/15/13,,,,,,bottom base 12/3/13-12/31/13,,,right shoulder to be determined, but if it plays out then measuring from the top of left shoulder at 24.70 to bottom of base, I used 20.50=4.20. Add 4.20 to 24.70= 28.90 targ for cup and handle,,,however when I drew in my trendline target it came in near 30. I searched but could not find any other meaningfull trendlines coming into play so I used $30,,,1.10 above the C/H calculated target. I have found that trendlines are magnets for pps support /resistance.

Just my humble thoughts.