Junior Miners Take Another Hit

With today’s outside-down (as of 2:43 p.m., EST), that makes it two key reversals for GDXJ, in the past five trading days.

While it looks like the whole herd is focused on the new mania, Artificial Intelligence, back at the ranch, the miners are painting an ominous picture.

Rendezvous With Destiny

The first two-minutes and ten seconds, at this link, are all that’s needed to get the idea of what’s likely to come.

The market recovered (fairly quickly) from 1987 … this time, may indeed be different.

The Elephant Sleeps

Ah, yes. The elephant no one talks about … or more accurately, are afraid to talk about.

Three links here, here and here, show us the elephant may be about to awake.

Even Fox News admits, it was all a lie.

Junior Miners GDXJ, Trend & Channel

From the bottom, May 25th to now, is a Fibonacci 13-Days.

Is that important?

Here’s a prior analysis on Real Estate IYR, that shows how Fibonacci can identify the pivot point, trend and/or trading channel.

Now, back to the Juniors.

The mining sector appears to be under pressure. Each attempt to rally is being thwarted.

Compressed view of the channel, below.

The Fed announcement at 2:00 p.m., EST tomorrow, may or may not have any material effect. The sector may just continue lower …. slowly, without much fanfare (not advice, not a recommendation).

Stay Tuned

Charts by StockCharts

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