GDXJ has shredded its way past all lesser targets, leaving just one more Hidden Pivot resistance at 93.89 that comes from the weekly chart and beckons a test. Judging from the ease with which buyers penetrated the midpoint resistance at 78.90, the target is all but certain to be reached. It is nearly as likely to produce a precise reaction, meaning you should consider covered writes if you hold a long-term position.  I advised doing so at a lesser target not far below, but there was relatively little resistance. This time it is likely to be different, but if GDXJ melts through the resistance anyway, I’ll need to rummage through my bag of technical tricks to come up with a new target, since the one at 93.89 is the highest I can produce with conventional tools. In most cases, this entails extrapolating an ‘extension’ target from the intraday charts. This tactic will yield Hidden Pivots that should be expected to show shortable stopping power, but it is not a reliable means for predicting a major top.