GDX (Gold Miners ETF) Wave 2 Cyclical Bear Market From 3-17-08 Until Late October 2008 Did An Inverse Elliott Wave 12345 Down Up Down Up Down Pattern

GDX's (Gold Miners ETF) and HUI/XAU's Wave 2 Cyclical Bear Market from 3-17-08 (the XAU's began 3-14-08) until late October 2008 did an inverse Elliott Wave 12345 down up down up down pattern, see chart two at http://stockcharts.com/charts/gallery.html?gdx. Note the very large very bullish inverse spikes that have occurred (see chart two, the weekly view) since the Wave 3 Cyclical Bull Market began in late October 2008.

Wave 1 down bottomed on 5-1-08, Wave 2 up peaked in mid July 2008, Wave 3 down bottomed in early September at 27.35, Wave 4 up peaked in late September at 38.73, and, Wave 5 down bottomed at 15.83 (Wave 2 Cyclical Bear Market cycle low) in late October 2008. GDX (Gold Miners ETF) fell -72.16% in the Wave 2 Cyclical Bear Market.

See annotated chart one at http://www.joefrocks.com/GoldStockCharts.html to see the 5% major buy signal/breakout that occurred on 12-10-08 for GDX/HUI/XAU, which means that Trade the Cycles the system now indicates that a Wave 2 Cyclical Bear Market cycle low very likely occurred in late October 2008.

.......http://www.JoeFRocks.com/

NEM XAU HUI