GDXJ: The Song Remains the Same

GDXJ is satisfying our 39.50/40 target projected over a month ago.

This is 180 degrees up from the December low of 27.37.

That seems a long time ago.

It's easy to extrapolate higher prices in the emotion of momentum.

And, of course, GDXJ may have substantially higher projections.

But this looks like a point of recognition.

This is the benefit of my Square of 9 Wheel — it allows us to measure the market.

If you can't measure the market, you can't manage risk.

At the same time GDXJ is kissing our projection, it is in the monthly Minus One/Plus Two sell positon.

Again, this does NOT mean GDXJ is not going to rip higher.

It is the BEHAVIOR at this juncture that is important.

This is where listening to the song of time and price pays.

Time & Price are the Lennon & McCartney of trading. Pattern is the offspring of time and price.

Speculation is observation. Thinking isn't necessary and often just gets us into trouble.

My Plus One/Minus Two Swing Method (and its inverse Minus One/Plus Two Method) does a good job of determining the trend.

Let's listen for what tune GDXJ sings here.

There may be a top ten hit playing with a big picture inverse Head & Shoulders on the table.

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99.999% of traders have never even seen the Square of 9... let alone understand its potential.

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