GDXJ topped within two pennies of our 30.76 target (see chart in tout archived January 20), so no one should have been taken by surprise by the sharp retrenchment that followed. The pullback has exceeded no prior lows on the daily chart, and so we can use the 31.29 Hidden Pivot shown as the target of the next upthrust. Traders looking to bottom-fish their way aboard again should use the 28.86 midpoint pivot that comes from these coordinates on the 15-minute chart: a= 30.74 on 1/21 at 9:45 a.m.; b=28.94 at 1:00 a.m. _______ UPDATE (9:34 a.m.): The little nasty has popped a wheelie this morning to 30.16 (!) off a 28.81 low that was 0.05 below where I’d suggested buying (28.86). Anyone get aboard? If so, please let me know in the chat room so that I can establish tracking guidance.
