The market is simply grinding near the highs we have recently struck, and, thus far, has been quite stingy during this pullback. But, I have a hard time believing it is over.
In truth, when the metals begin to rally, I have no problem accepting the fact that we see a shallow retracement. But, I don’t think we have seen enough of a consolidation to consider this all of a 2nd wave just yet.
So, I am just going to keep this rather simple and short, and allow you to look at the charts attached, especially the smaller time frames. Ideally, I want to see the top of the target boxes struck before I can consider anything as a reasonable 2nd wave at this time.