Well, we had a nice pop on the open as expected Friday. The SPX tagged nearly 952, a little short of the 955/56 area, but close. My model has shorted the open or RYDEX AM NAV.
The GDX popped into the 23's as expected too. It tagged 23.71 and is pulling back. I'm still neutral this sector waiting for a best case scenario to form.
Now we wait to see the extent of the expected pull back of the stock market. Certainly I would expect the SPX 850 area to be tested in the next few days.
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