Gold Signaling Early-Aug. Peak
08/03/16 Weekly Re-Lay Alert:
“Gold & Silver remain below their early-July highs in what is perceived/expected to be a ‘b’ wave bounce before the onset of another (slightly larger) ‘c’ wave decline. Both metals spiked to new rebound highs on the 2nd trading day of the new month – perpetuating a ~30-degree cycle.
Gold has set a 1–2 month peak in the first 3–4 trading days of the month – in 2 of the last 3 & 3 of the last 5 months. In the intervening & preceding months (Jan., Feb., Apr. & June ’16) Gold set its intra-month low on the first trading day of each month. Silver has set its high or low in the first 2 trading days of each of the past 6 months.
To put it another way, Gold & Silver have set one of their two intra-month extremes at the beginning of each month in 2016… and were/are expected to perpetuate that pattern with an early-August intra-month peak.
It would take daily closes below xxxx.x/GCZ & xx.xxx/SIU to turn the new intra-month trends down and project a new round of selling. [Specific trigger points reserved for subscribers only.]
Ideally (the more likely scenario), Gold would peak in the current time frame and then sell off into late-August – the next phase of a ~90-degree cycle that has timed intermediate lows (in either Gold, Silver or both) in late-Nov. ’15, late-Feb. & late-May ’16.
The XAU has come very close to its 2–3 month LLH objective but remains positive until a daily close below xxx.xx.” [Specific trigger points reserved for subscribers only.]
Gold & Silver stocks are nearing a critical 2–3 month (and 3–6 month) upside target (see Weekly Re-Lay for specific level) & setting the stage for a multi-month peak, after the actual metals have already signaled a peak. This coincides with a key cycle in equity markets that reaches fruition on August 12th. The result could be the largest sell-off in Gold stocks since the beginning of this advance in Jan. 2016!
All of this is steadily validating the outlook and ‘Roadmap’ for ‘2016- The Golden Year’… while presaging what is expected in the future – after some necessary correction objectives are met.
The time for a Major, accelerated, blow-off advance in precious metals is approaching, BUT is NOT yet here. In fact, some (more) selling is likely BEFORE that opportunity emerges.