GDX is without question pending a breakout but we need GC to get in gear and make up some ground. I know I've been saying that for a while but it may finally be upon us because the chart is simply running out of room and needs to make a decision. Now with that being said please remember that I've been calling for a final low from gold after this move higher so please keep that in mind when trading the miners. Now that I got the warning out of the way I'm pretty siked about the miners and gold. Unfortunately the GDX count is so complicated I have a $10 range for the high from this bounce. All the way from GDX $21 to GDX $31. That's right I can one count on my chart that could take GDX as high as $31 before new lows. Just to be fair let's call the first target at $21.50 and hopefully I'll be able to get a better handle on the detailed count by the time it get's there. I do believe I said $23.50-$25 from my first call so that's most likely where it'll go but I'm not taking the uber bullish count off the chart until I have a reason.
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