Short and Sweet - Market Analysis for Feb 5th, 2026

There really is not much for me to add to my metals analysis at this time.  My view remains that we are mired in a b-wave within a larger a-b-c corrective structure off the recent highs.  And, I think it is reasonable to expect one more rally before this b-wave completes.

Of course, should all 3 charts break below their recent lows, then I have to assume the c-wave is already in progress, especially since we have hit the minimum targets for this b-wave in both the GC and GDX charts, but we have fallen short in silver.  So, again, I think the weight of evidence suggests one more rally to be seen before this b-wave completes

Once this b-wave completes, I am going to be seeking a 5-wave initial decline for wave 1 of the c-wave which will make this a-b-c structure an even higher probability.  And, should we complete a 5-wave decline in the coming weeks, then I will be looking to individual mining stocks charts in MMA for buying opportunities.