Quick Morning Update - Market Analysis for Sep 24th, 2026

With the continued weakness in metals, I wanted to put out a quick update.

As long as GDX holds 91.19, the green (ii) is still alive but on life support right now due to the depth and size of this potential wave (ii).  I have also added a pivot on the chart which is quite important in the near term.  A break down below the pivot places pressure down in a big way to the blue wave (ii) box.  Ideally, I would like to see a bounce from this region.  If it is corrective, then we have to prepare for a  drop to the blue box - or potentially lower.  IF it is impulsive and we take out this week's high, the green count takes control in a big way.

Silver is down to a .764 extension in the red count. We "should" bounce from here and if it is impulsive, we still have to take out this week's high to invalidate the red count as shown.  The red count points to a likely lower low of at least 53.50.

Gold is barely holding on to its (i)(ii).  But if broken, I do not have a reliable micro count in gold.

I said this was going to be a very key region for the near term direction in metals and it really remains as such.