GDX / DUST Update

Regardless of GLD, GDX and DUST are following the concepts that we have learned by observing the market, here's yesterday's update of GDX (gold miners) and DUST, two positions I like, but said, "Not yet"

GDX / DUST Position Update

In fact, my exact words were...

(As to GDX) "However you've followed the concepts, what do you see missing on this 60 min chart that GLD is NOT missing this morning? There's a stage 3 top area, there's obvious resistance, what's missing is a head fake move though resistance."

(As to DUST) " I could be 100% wrong and DUST may be the perfect entry here, but from what I know about the concepts we see and the probabilities, the probabilities say, "Wait for the head fake move, this is too defined for there not to be one"."

However, it didn't take long for the concept to kick in, take a look at both now...

 GDX likely head fake over resistance as it was clear and obvious and...

DUST head fake (probable) under clear support, the head fake concept.

The way I see it, This is only good for us, it will confirm the head fake and we'll have an excellent entry with low risk or it won't and nothing ventured, nothing lost.

The move is fairly parabolic so I'd expect a tighter "U" reversal, but there still needs to be a reversal process...

Keep these on your radar.