Notes From A Master

‘Trade the pattern’, is what floor trader Richie Naso tells his students.

Taking that wisdom and applying it to the weekly chart of Junior Miners, GDXJ, what would be the appropriate action?

Junior Miners GDXJ, Weekly

At this point, GDXJ has posted what looks to be terminating wedge (not advice, not a recommendation).

Tomorrow is the long-awaited Fed announcement.

Let’s see what happens next.

Stay Tuned

Charts by StockCharts

Note:  Posts on this site are for education purposes only.  They provide one firm’s insight on the markets.  Not investment advice.  See additional disclaimer here.

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