6:34 pm PST. Don’t get too excited about this but I just wanted to post it because I thought it was interesting how GDX stopped right at the 50 sma on the day chart, and the 21 sma on the weekly chart.

1:02 pm PST. Very dramatic sell-off in the miners. I know of only two traders who actually caught the bulk of the move down from last Friday. Kudos to you Cameron and Ron. Mortdiggiddy on Stocktwits.com. Great trading.

Gold tagged the 200 sma-day almost exactly.

This is going to be interesting with the coordination between the U.S. core indices, treasuries, gold and a possible interest rate hike in March. Typically gold and treasuries are the risk off trade.

SPY with BAC overlayed in the black line.

The Wave (2) correction took about two months to happen. While the wave (ii) correction took about one month to complete. This means that wave (4) will likely take between one to two months to complete in what I expect will be a wedge a-b-c-d-e formation.

11:38 am PST. It looks like another rate hike is coming soon. The market makers are selling government bonds and the dollar is getting a lift now, with gold and silver and mining stocks selling off.

11:17 am PST. Market Makers selling core treasuries on GOVT if we close below.

11:05 am PST. GDXJ now bouncing off the bottom of the channel again.

10:59 am PST. It looks like we might get a doji top on gold for now.

10:21 am PST. Stopped out. Not liking this. If breaks down, might go short. Gonna watch the close.

10:05 am PST. IF GDXJ breaks down, I will be stopped out. It’s okay. I am not going to average down.

9:17 am PST. The French etf, EWQ, caught a bid today after seeing that block trade on Friday, which I thought was bullish. Might be good to take some profits here.

9:03 am PST. Two very large block trades on the core U.S. Treasuries etf, GOVT, just came in. This could mean the wave iv correction that I pointed on TLT is done. This block trade is going to move. The market makers are buying treasuries, probably in anticipation of a market correction.

9:00 am PST. Here is my updated chart of GDX that I posted last Friday about the short squeeze coming. Shorts are getting squeezed and the market is going to squeeze a lot more this week. See the inverse head and shoulders pattern that I posted last Friday working well.