Gold doing almost exactly what Sunday’s chart suggested.
The rally from the July low labelled (1) and a prospective (2) correction toward roughly $4,200 before another larger advance.
Spot has now broken below $4,400 and was around $4,386, with rising yields and the stronger dollar doing the damage.
Today’s action actually strengthens the ABC / wave-2 pullback interpretation.
I’d watch $4,367, then ~$4,315; underneath that the ~$4,200 area becomes quite plausible.
That’s also why I wouldn’t be rushing $GDXU—the 4-hour chart had already started the A-B-C correction beneath $200.