Gold Stocks Validate Cycle Peak
02/22/17 Weekly Re-Lay Alert:
“Gold Stocks Validating Cycle High… & Low?”
“Gold Stocks continue to reveal critical clues regarding the outlook for precious metals. The XAU (& HUI) peaked in perfect sync with intermediate cycle highs and a host of corroborating indicators – all of which projected an intermediate peak for Feb. 6–10th, ideally on Feb. 8/9th.
That was expected to lead to a correction into the current week, when an uncanny 10–11 Week Cyclebottoms (although that could stretch into next week). Before updating some of the decisive factors that led to the Feb. 8th peak, it is useful to review what was written in the Feb. 8, 2017 Weekly Re-Lay Alert
Since that analysis, Gold Stocks have provided some revealing clues about the intermediate outlook. The XAU remains in a weekly uptrend but turned its daily trend down after rallying into intermediate cycle highs – surrounding Feb. 9–11th – while attacking its weekly 21 High MARC at 97.33/XAU.
That daily trend reversal added significance to the 9–10 week cycle between lows (8 of them) that has remained constant since Sept. 2015. Another low was/is expected from the latest phase – on Feb. 20–Mar. 3, 2017.
The XAU has turned its intra-month trend down…From a timing perspective, that next rally could be short-lived since Gold & Silver are poised to peak in early-March. That would also fulfill the first phase of the diagram included in the Jan. 2017 INSIIDE Track.”
Gold stocks confirm intermediate cyclic peak on Feb. 8–9th. Multiple indicators & divergence project overall (initial) drop that could last into March 1–3rd. Gold & Silver could spike to new rebound highs in the interim and fulfill/perpetuate uncanny ~4-month cycle. See Weekly Re-Lay & INSIIDE Track for additional details.