For GDX, today will be a tie-break between the first support and resistance clusters, each with strength of 12. Yearly pivot (55.10) will be critical to monitor as it is the first major protection of our new short entry at 54.98. The initial stop at 58.46 is strongly protected by the huge second resistance cluster with strength of 26. The most probable 3-day short target of 53.38 is at the lower end of the first support cluster, suggesting a continuation to the downside would be relatively easy from there.

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For IWM, the path of least resistance is clearly upwards and only daily levels (not shown) are hindering a bounce to our 81.18 short entry level. Support strength is now sturdy enough compared to resistance for a one-day-only bullish bias. The initial stop (83.03) of a possible new short position is well protected by the strong second resistance cluster. Billy

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