Since you posted this GDX has broken out strongly to the upside. Could the renko chart have given a false sell signal?

I'm holding on to some of my SPY longs and hope to buy back more at a lower price because I believe the market movers will try to push the market down at some point to create the liquidity they need to buy up the trillions of dollars of shares they will be required to buy. I also took a short position in IWM as a hedge because it looks weak. I've learned the hard way that it's a fools game to go against the trend and since the trend looks like it's going up, I feel foolish for having taken a short position.

Close to pivot point on SPY. Looking for reversal to begin wave 2 so I can add to longs after pullback.

If I were a conspiracy theorist I might postulate that Powel will strike a hawkish tone because the "Deep State" wants to bring down market valuations to make them more attractive for a run-up into the election. I am not a conspiracy theorist, however, I'm favoring that type of scenario playing out so looking for more downside here. I could be completely wrong and will follow your mantra to "trade what's in front of us."

After reading Matt's thoughts on possible wave counts for gold posted here, I decided to speculate wildly.

If we have completed a 5 wave move in gold implying that wave A of an ABC structure is finished, I would be looking for a B wave triple zigzag (in elliottwave terms) bull flag that would bottom out somewhere in the $2220-$2150 area in 2-3 months. (The current move up that started today would be a lower high.)

Gold miners would underperform and bottom slightly later than gold somewhere around the 50% area on the BPGDM.

This is total speculation and the usual disclaimers apply but I would welcome thoughts and perhaps coverage in an upcoming newsletter.

GDX hit support and bounced.

Then started back down again. SILJ Junior silver miners outperforming silver on a big down day.

Any thoughts on when and where to buy either of these?

Re: SPX: I will be looking to exit longs and go short at around 5160 if it gets there.