The two successive leaps that occurred, respectively, last Thursday and Friday conspicuously failed to get past the important ‘external’ peak at 23.93 shown in the chart. This is not bearish per se, but it suggests that GDXJ’s upward trajectory is likely to flatten somewhat in the weeks ahead. The good news is that GDXJ has been building a base since May that looks well capable of supporting a move to $30 and above. We’ll look to leverage it on a pullback from above 23.93, so stay tuned. If you’d like to be notified of any trading opportunities in real time via an e-mail alert, you should check the ‘E-Mail Notifications’ box on your My Account page. _______ UPDATE (September 14, 3:20 a.m.): Yesterday’s strong surge ripped through 23.93 with such ease that the 25.84 target shown in the refreshed chart should be viewed as a done deal. Look for buyers to blow past the 24.15 midpoint this morning, shortening the odds of a move to the target. ______ UPDATE (September 24): Friday’s burst hit 25.67 — close enough to our target to consider it fulfilled. It should contain the move for at least a few days — but if not, shorts had better dive for cover. _______ UPDATE (October 2, 2:20 a.m. EDT):
