Here is my perspective using my own indicators. As I posted a while back I saw a weakness in the YEN vs USD. In retrospect that turned out to be the top in PM’s value wise. (the correlation is uncanny)
The YEN is still in a downtrend against the USD. It could be consolidating it’s gains for a push higher but that is not happening now. I will post when I think the trend in the YEN changes.
The trend is still up for GOLD, SILVER the GDX and GDXJ. They are all short term correcting their gains.
If I think they are starting a major correction I will post that. If it happens.
These are the dog days of summer late July early Aug. I think if the trends above hold, there will be a terrific entry point coming up.
I will also post when I see a good entry point for a fall rally.