Due to the long almost 2 month sideways chop, the Daily Bollinger Bands were very tight on Gold, Silver and GDX, signaling to me that a big move was likely coming. Based on my Time & Price models, I had been telling my subs the move was very likely lower and to be patient as nothing on the charts pointed to an Intermediate Cycle Low (ICL) forming until this week. Gold was also forming a Descending Triangle pattern which is usually a Bearish topping pattern (see second link).

Here is a link to yesterday’s Surf’s Wrap.

https://surfcity.co/2020/09/22/surfs-wrap-156/

https://www.investopedia.com/terms/d/descendingtriangle.asp