I am seeing subtle signs this morning that we are on day 2 of Trading Cycle 4 in Gold and the Miners. Silver has made a lower low and is likely on a different count with I will expand on over the weekend.
Remember that Gold’s longer 5-6 Month Intermediate Cycle normally has 4 shorter term Trading Cycles within it. Sometimes 3 and sometimes 5 but the norm is 4 and that is my expectation right now. If I am correct, TC4 will bounce a bit here but TC4’s are normally weak and often times just back test the 10ema from below and sometimes don’t even close above it.
Stocks (SPX) have also not put in anything close to a Intermediate Cycle Low just yet and My expectations are that the IC Low will now be extended out to either May or June. Here are a couple of charts on the SPX and RUT.