JNUG Direxion Shares ETF Trust - Direxion Daily Junior Gold Miners Index Bull 2X ETF

$JNUG NOV20 115P · still actionable Zone: $119.42 to $121.10 Invalidation: close over $124.68 Objectives: $113, then $106 The math: down 6.0% to the first objective and 11.9% to the second, against 3.7% risk on the invalidation, better than 3 to 1 to the second Dear friend, picture a floor that held for weeks and then gave way all at once this morning. JNUG fell to 120.26 dollars, down 9.5 percent, as gold slipped to its lowest level in more than two months and the junior miners followed it down, and what that means in plain words is buyers who defended 128 dollars all week are now underwater and sellers are in charge. This is a swing put built on that clean break, not a guess at a bounce, and a close back over 124.68 dollars would say the break failed and the idea is done. P.S. Watch 119.49 dollars first. That was the low this morning, and a close under it would show sellers pressing toward 113 dollars, not pausing.

$JNUG NOV20 115C · still actionable Zone: $110.22 to $111.78 Invalidation: close under $106.34 Objectives: $115.57, then $123.81 The math: up 4.1% to the first objective and 11.5% to the second, against 4.2% risk on the invalidation, better than 2 to 1 to the second. Dear friend, picture a gold miner fund that has been knocked down for weeks and is now sitting near the floor it just defended. Junior miners fell with gold sliding below 4000 dollars, and this fund closed Friday at 111 dollars after touching 106.34 dollars during the day, a drop of about 33 percent over the past month. That kind of washout is where a bounce often starts, not because the pain is over, but because sellers have already done most of their work and buyers only need a steadier gold price to walk it back toward 115.57 dollars, then 123.81 dollars. P.S. The first test is simple: hold above 106.34 dollars, and the bounce story stays alive.

$JNUG NOV20 137C · still actionable Zone: $132.22 to $134.08 Invalidation: close under $125.73 Objectives: $142.53, then $150.18 The math: up 7.0% to the first objective and 12.8% to the second, against 5.6% risk on the invalidation, better than 2 to 1 to the second Dear friend, picture a swing setup on a name that moves in a hurry in both directions. JNUG tries to move two times the junior gold miners each day, so it fell about 26 percent in a month and about 11 percent in five sessions, yet the low on Monday at 132.25 held right near where buyers stopped the fall earlier this month, and price still sits near 133. What that means is the selling has slowed at a real floor, and if that floor holds there is room back toward 142.53 first, while a close under 125.73 says the bounce has failed and you step aside. P.S. Watch 136.05 first. It was the high on Monday, and a close over it would show buyers pressing again, not just holding the floor.