There are two completely separate drivers at the moment for precious metals:

1.) Central banks – Fed / BoE

2.) Russia

Lots of noise.

https://rightsideofthechart.com/members/scott/activity/243752/

Some similarities but more differences between this bear market & than from Oct ’07- March ’09.

All I can say is that I still feel strong that my next (T4 on the weekly) downside target on QQQ will be hit & that I also think that will not be THE final stop in this bear market, just a likely support level which a bear market rally may start but when I look at the very long term (monthly) charts, I see a very decent chance of a much deeper & longer lasting bear market than the previous 2 in recent history (2000-2002 & ’07-09).

The BOE might surprise the market tomorrow, matching the Fed’s 3/4 pt hike. If so, that “should” help gold & silver as the Pound sterling accounts for about a 12% weighting in the US Dollar index. Other than that, we still have some divergences on the EUR/USD that, if they play out, would be bullish for gold & silver but as of late, the Euro just can’t seem to build on any rallies against the USD but the charts are still indicating that a likely reversal in both could be coming soon.

No but I sold half & placed stops under the remaining half. Essentially, they are a partial hedge to the stock index shorts I’m taking home but I wouldn’t be surprised if those stops are hit before tomorrow.

If you want to overlay try the decade it 2000 to 2002. Look at the market in 02 it bottomed the 3rd week of October. Bid I personally think we’re going lower for longer.AAPL was .27 pennies