There may be others that I have not seen...but I see nothing else as compelling as this trade...a R/R >10 over the next 12 months...with a significant portion of that return being before year end in my opinion. The length of time that this name has spent bottoming and consolidating and such a clear exit point...make this a MUST BUY here and NOW in my...
Latest update on my preferred silver count...looks like wave B was a triangle (ABCDE) and we are now looking for a 1:1 extension of wave A to C measured from B. of course it could extend to perhaps a 1.618 extension which would take us lower than the current tgt box.
SPX may see a push if we get a pull back in the yield inversion...but longer term, notice that anytime the yield inversion unwinds...what follows is a dump in SPX...
I see metals bottoming very soon....may get one more move down...but long is the way imo.
Most are bearish on mkts right now....mainly due to dollar and yields strength. I see both the 10Y yields and DXY pulling back strongly from here...and thus metals and most likely stocks will rally into year end and perhaps well into 2024.
I think most are leaning the wrong direction...I think yields and the DXY are pivoting and we will see a massive rally into year end for stocks and metals...
Take a look at this ratio xau/spx...solid pivot in gold vs spx showing where gold is headed...note SPX may also rise with gold but at a slower pace...I suspect this is the case as DXY should pivot soon and start it's swoon down to 90
Most are not seeing this version of the count...I think this count is dead on and earlier in the week we say the final pivot before we break $30
It is pretty much do or die time for silver...I remain uber boolish, but the time has come for a major move or else we will dump hard imo...lets see which happens.
Silver headed up to around $60 before major pull back next year....should get more than Double from here by year end!
I see more down for DXY in the near term...through end of year...before a solid bounce...this will be boolish for commodities and stocks.
This one looks overdone...If I am correct about the DXY and 10 yr yield pivoting then this should be a catalyst for the banks to pull back hard.
looks like a reversal is about to start for the DXY...should lead to a swift pull back in stocks and metals...before we get another dump in DXY in the fall....I have closed most longs on stocks and metals expecting the change see below.
Expect another move down then a significant bounce which will hit stocks and metals before a major reversal again.
I see one more decent pull back in silver and gold before things really take off...I have raised some cash to take advantage of this expected move....
Take a look at this one...a real chance to get a 20x return if you ask me...a true lotto play in the junior miner space.
Credit to Patrick of Badcharts...looks like gold finally broke out vs spx....a weekly close above 0.50 is the signal I have been waiting for...ALL ABOARD!
Silver pivot has happened...wave 2 is complete and wave 3 has started...hold on!