I admit I missed the GDX move down to 22.93 today, but at the same time, it has presented itself with a great opportunity. The chart below is predicting GDX 29.84 by October 14. I am now leveraged, extremely leveraged with options for a strong rally ahead in gold and GDX.

A lot of negative bias now in the precious metals complex has me thinking the other way: and that is a massive short covering rally ahead. The e-wave look and cycles suggest the same. The “nonfarm payrolls report” on Friday could be (likely) the catalyst.

Also, I believe the SPX could go as high 2236 by October 14. A lot of negativity out there in the stock market coincides with my charts saying: “The top is not in yet!”

Do I believe that a large drop in gold, silver, GDX and SPX is in our immediate future? You can bet your bottom dollar I do. The charts below explain everything.

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