I’m back from the dead for one post before resuming my slumber.  Ichimoku clouds are fairly instructive right now.  For example, the weekly Ichimoku cloud on the $silver chart strongly suggests $silver will not be closing below $17 on a weekly basis for the foreseeable future.  While it’s possible we get a fakeout move below $17 for a week or two, and perhaps even a weekly close below $17–such a dip should be bought with both hands and feet, IMO.

Also, I have posited for years that $HUI should outperform GDX in a true bull market.  The last few months of price action on the $HUI:gdx chart has painted a freakish looking Ichimoku cloud on the weekly chart.  I believe we have a huge up move in the miners coming between now and August, and if I had to guess I think it will start somewhere between July 8-July 13 (based on some daily Ichimoku cloud charts).  Between now and then, however, we could head lower in the miners.

I’ll post more often come August.  Good luck.