A recap: I haven’t chimed in much because I don’t believe much has really changed beyond progression within the bear market in the gold stocks. Keep in mind the number one principle of investing… Align oneself with the primary trend. That primary trend has been down since August 2020. Since then gold stock movements have NOT been corrective in nature they have instead been engaged in a downward primary trend. Yes, that’s called a bear market. The major change over the past 2-3 months has been the shift in psychology. The bear market has transitioned beyond the point of recognition (POR). I identify that point occurring around the month of July.

Nothing has changed regarding my previous analysis over the past few months. I still see the market advancing into a Phase III and a capitulation event before the bear market is over.