I’m sending this message as in today’s main analysis I forgot to add a note about the possibility of seeing a daily rebound in the GDXJ – and we’re already seeing it today.

The thing is that we saw exactly the same thing on April 20, 2022 – the GDXJ rallied a bit after the first big daily decline, right after the top.

This is how the big decline started and in today’s analysis I marked both situations with red rectangles.

This means that today’s rebound is completely normal given the analogy – it doesn’t imply that “the rally is back” etc.

It seems that the short-term top is already in; and the bearish outlook remains intact.

As always, we’ll keep you - our subscribers - informed.

Thank you.

Sincerely,
Przemyslaw Radomski, CFA
Founder, Editor-in-chief