# Gold miners ETF (GDX) — Elliott Wave count, Nov 6, 2026

Gold miners ETF (GDX) Elliott Wave count at the Nov 6, 2026 close (price 87.6): the called count is cycle IV double zigzag, Y's (B) rising. It is invalid above 105.67. On the daily chart, intermediate (B) of primary Y, a zigzag up from $75.83, targeting 89.52 (invalid below 75.83).

Source: https://elliottwaveatlas.com/markets/gdx · Data: https://elliottwaveatlas.com/data/markets/gdx.json

## Called count
Cycle IV still unfolding. Invalid above 105.67.

What comes next: minute iii toward $87.98 - 90.53, minor c toward $95.69, (B) toward $89.52 - 93.09, then (C) of Y toward $62.89 - 45.64 and cycle IV toward $55.00 - 43.54.

## Levels by timeframe
| Timeframe | Degree | Wave | Target | Invalidation | Time window |
|---|---|---|---|---|---|
| Monthly | Cycle ↓ | cycle IV of the the whole advance five from $12.40, a double zigzag W-X-Y down from $117.18, in progress | 43.54–55 | 117.18 | 2027-02-08 → 2035-11-14 |
| Weekly | Primary ↓ | primary Y of cycle IV, a zigzag down from $105.67, in progress | 45.64–62.89 | 105.67 | 2026-11-14 → 2027-03-27 |
| Daily | Intermediate ↑ | intermediate (B) of primary Y, a zigzag up from $75.83 | 89.52–93.09 | 75.83 | 2026-11-24 → 2027-02-13 |
| Hourly | Minor ↑ | minor c of intermediate (B), up from $82.50, in progress (minute i $86.40, minute ii a flat to $84.01, minute iii rising) | 95.69 | 82.5 | 2026-11-07 → 2026-11-14 |
| 15-minute | Minute ↑ | minute iii of minor c, up from $84.01, in progress (close $87.60) | 87.98–90.53 | 84.01 | 2026-11-06 → 2026-11-07 |


## Recent changes to the call
- 2026-10-22: changed — cycle IV double zigzag, Y falling
- 2026-10-16: new — cycle V under way, primary 3 starting

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