Just Be Aware - Market Analysis for Jan 2nd, 2026

This is not going to be a long update, but I do have to outline what you need to look for to become much more protective in the metals complex.

As I have noted many times, if we get 5 waves down off the high in gold, it will put us on watch for a potential 1-2 down pointing us towards a (c) wave decline to the 3800 region.  And, with the 1-2 potential in place now in yellow, the action from the rally high this morning is a potential 5-waves down also.  

Therefore, if the market will drop back down towards the recent lows in a bigger degree 5 wave decline, that would likely be wave i of 3, and a corrective bounce thereafter would likely point us towards the yellow (c) wave down about to begin in earnest.  This 1-2 structure is pointing us to the 3600-3800 region. And, THAT is what you have to be aware of right now.

Should silver break below the last low we just struck, then all bets are off on the long side for me in silver for the time being, and the potential for a long-term top having been struck in silver will grow - at least until I see a CLEAR 5-wave rally again off a low.

For now, I am still looking higher.  But, I need to outline what would change that perspective, especially in the gold chart.