Talk Digital Network – Jim Goddard
05/11/16 – Gold & Silver Enter (2–4 Week) Corrective Phase; 1–2 Month Period of Volatile Consolidation Likely. June/July 2016 = Next Bullish Phase. Stock market Projected to Set Next Important Low in late-June 2016.
Jim asks Eric if the equity drop in January was enough to correct market for 2016. Eric reiterates his premise that 2015–2016 would be a slowly-developing bear market with 2–3 month drops and opposing 1–3 month rallies… all creating a sideways market. Eric also recounts his expectation that the next decline would culminate in late-June – the convergence of a 5- and 10-month cycle.
Eric & Jim also discuss China and the impact it is having on global equity markets… including those in Europe (which remain precarious). They then discuss oil and the global glut of oil.
Jim then asks Eric about his outlook for Gold. Eric restates his belief that 2016 would begin with a 3–6 month advance in Gold as part of a multi-year bull market to come. Eric explains his analysis of why Gold & Silver have met some initial upside targets – in late-April – and generated a short-term sell signal in early-May… that could escalate to a 2–4 week sell-off into late-May (1190–1200/GC is the downside target, published in the Weekly Re-Lay, and remains in context of analysis for two strong rallies – in April & June – with an intervening pullback in May).