It’s A Pullback, But Not Enough

While we are seeing the metals “pullback,” I cannot say that this is really enough to suggest the bigger pullback we are expecting has begun. Rather, I would want to see all 3 charts break below their .236 retracement levels. That would make me more confident that the bigger pullback is in progress.

And, to be honest, while I usually provide you with a great depth of insight in the metals updates, there really is not much more to say. I would strongly urge you to listen to my full-member video this morning as well. But, for now, we have no CLEAR indication that this rally has topped. And, everything that I noted in the weekend update is still very much applicable.