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I have good news and bad, but the bad news isn't really all that bad either. The good news is that we have done a great job of pinpointing and navigating the lows of what appears to be an ICL ( a deep meaningful low) in the precious metals market. The bad news is that we now have to navigate the upside and as you will see, its a bit trickier than many may expect. Lets quickly review the markets first.
SPX- This has been no picnic for investors either. The SPX is basically flat for the entire year. Strong sell off and reversal yesterday, but can it break to new highs? It needs to be monitored. A break below the July lows in the next few weeks would be very bearish in my opinion.
Read MoreGold, Silver, and Energy stocks have been bottoming and some have begun adding nice %-Gains already. I had warned that if we didn't take a position, it might get very hard to do so. Why? We might see what is known as an Island Bottom. A Gap open higher that may not fill. I used this chart yesterday to point that possibility out.
Lets review some charts of Gold, Silver, and Energy stocks for potential entries...
Read MoreMid day thoughts...
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