I wish I could provide further insight into the metals market beyond that which I have been providing of late. However, I feel as though I am going to fall short since there really is nothing new for me to report.
The bottom struck in most of the charts of late is still not a clear final bottoming structure. Moreover, the rally thus far off those bottoms still has not been blowing me away, and it clearly is still well below the 5-wave structures I would need to see to even begin consideration that a bottom has indeed been struck.
Lastly, as I have reiterated many times, even a 5-wave rally may even be a [c] wave within a b-wave of a larger 2nd wave structure in most charts. For this reason, I am still going to need to see not only a 5-wave rally, but also a corrective pullback thereafter, followed by a break out over the top of that initial 5-wave rally to put me into an uber-bullish “mood.” Until then, I am still concerned that this correction can stretch out a bit longer, and still take us to a low below that seen recently, in order to provide us a more complete 2nd wave.
Should I see any further clearer indications, I will certainly alert the membership, even if it outside of my regular mid-week or weekend schedule.