We show JAG once again, not because we are interested in this company per se at this time, but because it is instructive as to what one might expect from the markets in general. The 5 year cycle is complete , short perhaps of a minor wave 5 of 5 of C, and displays a textbook flat A-B-C. It loses 95% + of its value and drops right back to the 4th wave of previous degree and C is slightly larger than A.  On some US indices we are presently at the high point of the B, on most others we are approximately where the red arrow is (or lower), that is at wave 2 of 3 of C or a little below that. The strongest drop is right ahead of us. We will see.

Jaguar Mining did something very similar to NKO. They are gold miners in Brazil, Minas Gerais. Their board of directors reads like Who is Who in Canada. Has not been much help. Once you are this low to ground level there cannot be that much to go. For what it is worth, it may just need a small additional wave down. They have too much debt so it is not clear if it will ever get off the ground. We show it for it’s perfect EW pattern.