This is GDX on the bigger degree. I mean clearly we have more than enough waves in place right now for this to have considered topped in a five-wave structure. Now, can that five-wave structure be a C wave of this alt B wave?
Absolutely and it could and point us down it. But I got to tell you it's possible. Just don't think it's probable because in order for this to be a five-wave C wave you have to view this as the A wave bottom here, then you have an A, very unusual B wave and then a C wave rally?
I mean, you [snorts] know, we see expanded flats, you know, every now and then. But I got to tell you this one would be extraordinarily unusual. For that reason I'm I'm viewing this as wave one of wave five.
We Yes, we could see a deep wave two believe it or not because there are quite a number of individual mining stocks that are strongly suggestive of those in lower lows. Um, I don't think GDX is necessarily um, strongly suggestive of that.
Like I said, you could see a deep wave two but I I'm I'm not strongly indicative um, of uh, I don't think it's strongly indicative of of a uh, of anything more than just a deep wave two.