On October 12, Gold Ripped. This May Just Be the Beginning.

Gold ripped yesterday to trigger multiple buy signals. It looks like this is just the beginning with today being a Pause Day prior to continuation.

GDXJ shows an inverse Head & Shoulders which projects to near 32 which ties to the 200 day m.,a. and importantly a 16 month shelf.

Knifing back up through that shelf will trigger a massive Bear Trap signal… a bullish event.

Meanwhile, the SPX shows a quicker move from record highs to a close below its 200 day than in 1987.

Of course, 2 closes below the 200 day that year resulted in a crash.A break below 2723 implies that may be the mid-point of a waterfall decline.