GDXJ – Junior Gold Miner ETF (Last:48.34)

Last week’s prediction missed the turn, even if expectations for physical gold were more bullish. The week began with a manic leap past  x=46.97, which made more upside to at least p=49.17 an odds-on bet. Don’t expect an easy move through this midpoint Hidden Pivot resistance, though, since both the pattern and the location of p will make it hard as rock. It will take a two-day close above p, or an intraday move surpassing it by perhaps 50 cents, to ensure further progress toward p2=51.38, or even d=53.58.  If and when p has been decisively exceeded, a swoon to x=46.97, however unlikely, would be a back-up-the-truck spot to get long ‘mechanically’.