Upside Test Can’t Hold

With less than an hour into the session, Junior Miners (GDXJ), have tapped upper resistance, pushed past by just 0.07-points, and are now eroding to the downside.

If the index continues lower, it has the classic near textbook look of ‘bump and run’.

It’s a price action response to stops placed just above resistance that get executed and then the market continues lower.

If that’s the case, it could get very serious to the downside (not advice, not a recommendation)

Short positions via JDST, have been maintained with a hard stop at today’s JDST, low of 5.974 (not advice, not a recommendation).

Charts to follow.

Stay Tuned

Charts by StockCharts

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The Danger Point®, trade mark: No. 6,505,279