Last week began with a doomed two-day rally that left our 82.46 target unchanged. It has now been five months since shorting an upthrust proved to be a bad bet, and that will probably hold true at least until GDXJ finds a bottom at or near our target. It is a Hidden Pivot support too compelling to simply give way. It is also commensurate with a 3630 target I’ve provided for August Gold where a significant bullish reversal seems most likely to occur. Alternatively, we’ll set the bar at 120.06, just above an external peak recorded on May 29, to alert us to the possible ending of the bloodletting.