Monday, December 28, 2015

[GDXJ] update

Per the model from the backlink below, GDXJ was hard up against resistance and in order to break out from there it would have had to execute a 1" punch.  It happens but the odds are low and so the primary model reflected a downward move. 



We did get some southward movement by the herd but not with the kind of gusto I was looking for so it will not surprise me to see the upper rail tested once again per below.  Red remains primary but now that the herd has pulled back from resistance it also has more of a chance of gapping up and out per the blue.  I only mention this distant alternate reality so that people will recognize the importance of it should it happen.  It's akin to going to a garage sale with enough background knowledge to recognize when someone is using a valuable artifact for a door stop.

And no, I don't go to garage sales but I've seen them on TV...

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