It appears to me that we are entering a dangerous period for stocks, commodities and maybe gold in the weeks ahead. Stocks and the CRB are beginning an intermediate degree correction that probably still has further to drop (maybe a lot further). Gold is deep into an intermediate degree correction, but I’m not sure it has bottomed yet. It’s been stuck in an erratic whipsaw event for the last 6 weeks. I’ve gone over in depth in the weekend report the warning signs I’m seeing. Anyone that would like to try the SMT newsletter and view the weekend report I’m going to extend a 50% off offer for the first month. The offer will remain open until trading starts on Tuesday. Simply create a monthly subscription and I will rebate $25 back on your first month’s bill.
I’m starting to see signs that the metals may be starting a whipsaw event. It’s still early in the daily cycle so we may not start the final bloodbath just yet. We could get a couple of weeks of volatile back and forth to fleece both bulls and bears before a final plunge.
I’m inclined not to trust any moves right now either up or down.