A thrust exceeding the 20.21 peak shown would be the most encouraging sign we’ve had since early June, so I’ve set a screen alert there to help us seize the advantage. Most opportune for purposes of initiating a trade via camouflage would be a peak that exceeds 20.21 by just a tick or two, since any b-c pullback thereupon would set up an entry trigger that our competition could overlook. Some won’t, though, and that’s why I’m recommending a timed buy-stop to get long if the chance should arise. Keep in mind that it would take quite a bit more to signal a decisive end to the bear market in this vehicle. Specifically, GDXJ would need to hit 23.94, exceeding peaks #2 and #3 without a pullback, to clinch the case. _______ UPDATE (August 1, 12:55 a.m.): Although last week’s peak at 19.83 fell shy of our bullish trigger threshold, it generated an encouraging impulse leg on the daily chart. Now, with a technically correct pullback to at least 19.04, this vehicle would be presumed ready for another upthrust of as much as $2. I’ve refreshed the chart to show this. _______ UPDATE (August 3, 2:16 a.m. EDT): Buyers tripped a signal at 19.31 yesterday, predicated on a target at 20.81 and a 19.81 midpoint. Just as we are requiring that December gold close above a comparable midpoint for two consecutive days, we’ll stipulate likewise for this vehicle before we extend it any more good will. _______ UPDATE (August 7, 1:05 a.m. EDT): Yesterday’s robust thrust left GDXJ comfortably above the 19.81 midpoint pivot at the close (see new chart), implying more upside over the near term to at least 20.81, our target.
