Interesting Potential - Market Analysis for Aug 17th, 2026

IF you remember, before we even caught a bottom in metals, I told you that I was going to be open to the market providing us with a 5-wave rally off the lows.  And, if we do see that in gold and silver, then the probabilities would increase that we could rally to new highs across the board.  I said this MANY MANY times.

Well, there is potential for us to get 5 waves up in gold.  Silver has a similar potential but I am not as confident in the wave 1 in that instance as it does not count as well as a 5-wave structure.

But, should we see higher highs before we see a meaningful pullback, I would be forced to view this as 5-waves up off the recent lows.  And, while a-waves can certainly be 5-wave structures as a lesser occurrence, we will then have to track silver and gold as both a bigger 1-2 structure off the lows as well as an a-b structure.   And, yes, this would open the door to both silver and gold seeing higher highs in the next rally.