I jumped the gun last week with expectations of a small rally to complete the aging pattern to D=41.17. The way bulls frolicked when they first moved above p=33.49 seemed to all but ensure GDXJ would get there. It will, but we’ll need to keep in step with the evidence before we assume that a strong bullish thrust past D is about to lock up more upside toward 51.51. That’s an important rest station on the way to $100, or perhaps even to 179.44, where the all-time high occurred in the final days of 2010. _______ UPDATE (Jan 26, 10:28 a.m. EST): GDXJ has fallen sharply this morning after coming within a penny of my longstanding target at 41.17. Since this marks the finale of a pattern going back to early November, it ‘should’ take at least 2-3 weeks to set up for the next bull cycle. Any sooner would be commensurately more bullish. The next push will be to the 43.49 target shown here.