Marking Time
This is the first in a series of three or four posts regarding gold and silver: the set-up, the strategy, the plays and the likely catalyst. For now the metals are in a tight consolidation, getting ready for the breakout. The FED meeting ends tomorrow. The last few meetings have led to a pavlovian response. FED says and does nothing and the banksters selloff gold and silver, on cue. That may or may not be what happens tomorrow. I have a strategy for both contingencies. Stay tuned.
Plunger’s waterfall decline is primed and ready to go down in the miners and metals. SILJ is bear flagging again, weak/no bounce has happened except for a couple of things like FNV. I’m keeping mental capital here by waiting this out. TLT and UUP look ready to move higher too.
The first move(fakeout) occurring now. The upside breakout to follow. Just not sure if it starts immediately after FED meeting, end of week, or next Monday. As far as TLT that is topping today or tomorrow.