"Per the attached daily chart, GDX shows a gap above 60 waiting to be filled (HUI equiv. approx. 585) if we get a bottom in and around here.
This gap down was created with decent energy as the volume shows. This event was not as dynamic as in September when the Euro fear and hype trade began to unwind. But the current outstanding gap was created on a decent burst of downside energy and if Monday's 'Hammer' candle does indeed prove a precursor to reversal, our target for a rebound would be GDX 60 and HUI 585.
Just a quick FYI."
Here's a chart from today's close showing both GDX and Huey accomplishing their objectives with a big assist to the great and powerful Oz.
Targets are not stop signs, they are just targets. But I thought it interesting that these charts were drawn to the gaps like magnets. What comes from this point on? Well, it's why we do the work. The game plan will continue to evolve.