Quick Note On Metals

As I just posted in the room, the structure has turned quite sloppy in the smaller degree counts in the metals complex, as I do not have anything impulsive to the upside or the downside.  With this turn down, I would say that the potential for that immediate higher high in the 5th wave is 50/50.  So, it means that while I am still cautiously optimistic, the probabilities are still not on our side of the table in order to be adding more aggressive long side positions.  We need that (i)(ii) set up for that, and the current structure is not providing confidence yet.

So, in simple terms, as long as we hold the support boxes on silver and gold, there remains potential for a 5th wave higher high.  Below it, and the alternative 2nd waves come to the forefront.  Trade/invest accordingly.