It sure does feel like a big drop is coming.

The daily stochastics have been pegged oversold for a couple of weeks across the complex, but that doesn’t foreclose a decent sized dump that could last for a week or two before any kind of meager bounce.

I think mid-late September will be the time to buy.  That being said, by no means would I be a seller now (I know famous last words).  And while I am expecting a lower low in the weeks ahead, there are obviously no guarantees.  Jackson Hole will be a headfake moment in all likelihood, so it’s understandable to avoid taking a position ahead of that meeting.  But I think many many people are probably thinking the exact same thing.

I will note that silver is still clinging to its flat 400 DMA, and the 200 DMA has already crossed positively.  FWIW.