j1persi – Looking over the comments from last week I just saw this one from you regarding the break below 6.30 on HL. Yes, that was the catalyst that I was looking for to spark the next leg down to the 2nd price target, which as hit later that same day.

HL has been consolidating around the T2 level since then in what appears to be a bear flag continuation pattern (best viewed on the 60-minute time frame). As such, a solid/impulsive break below the flag pattern is likely to be the catalyst for the next leg down to the final target, T3 at 4.87, especially if confirmed by a similar move down in GDX.