The waterfall decline is coming, but I believe the bottom to be delayed until late next week. I see a 5%+ decline coming like I was thinking before. There is a 20/40/80 week low due ideally around Aug 11. A new high is possible Tues/Wed this week.GDX still looks vulnerable to a sell-off into Aug 11 too (Mercury Rx is Aug 12), down to below 20.70. I believe we see a change of trend then for GDX and SPX.