Gold Remains Strong as Silver Waffles

03/09/16 Weekly Re-Lay Alert:  ““Silver’s Standoff”

Of all the key markets being closely monitored during this time, Silver is the most non-committal.  It has reached a stalemate… preventing bulls AND bears from declaring victory. 

Before examining the specifics of this standoff, a few observations should be made – to place it in proper context:

1 – This is VERY indicative of a Major turning point.

2 – This is VERY indicative of a ‘1’ & ‘2’ wave, unfolding in the very early stages of a new bull market.

3 – It could also be a ‘4’ & ‘5’ wave of a waning bear market.

4 – Though #2 & #3 sound like stark contrasts, the actual distinction of them (in reality) is very minute… potentially non-existent.  In both cases, they could immediately precede a more dynamic advance following the next intermediate low… 

The daily trend is positive, with Silver having retraced far enough to twice neutralize it but then immediately reversing higher (without turning it down).  That should prompt a retest of the high… which could trigger a domino-effect of new trend signals…

Of all these factors, the weekly trend pattern is the one to watch closest.  If/when Silver can give a weekly close above 16.005/SIK, it would confirm that a 3–6 month (or longer) bottom is intact. 

3–6 month & 6–12 month traders and investors should be holding partial long positions in Gold & Silver from mid-Dec. (~1046–1076/GC & 13.62–13.88/SI) and should hold them until [reserved for subscribers only]….”   TRADING INVOLVES SUBSTANTIAL RISK.  See Hypothetical Trading Disclaimers.

Silver at standoff;  Daily trend signal projects retest of high but weekly trend pattern must turn positive at that time.  Late-March pullback – into pivotal cycle lows in April 2016– expected.  Regardless of near-term action, Major bottom was likely set during Dec. 2015 cycle lows.