Saturday, June 24, 1:35 pm EST. Had received a reply from a reader mentioning certain technical indicators, including a special favorite of mine, that I had not looked at in some time… called the P3 Squeeze. I won’t try to explain it here and now, but I went through my charts on the site, where I have a default setting having this P3 Squeeze set-up programmed in it. I had promised this reader that I’d look for any P3 Squeezes indicating a near certain price reversal to the upside.

I went through all the gold miner, royalty firms, ETFs, and the metals themselves, in the form of the GLD and SLV funds. Whereas, I had seen plenty of P3 Squeeze signals around the previous December, March and early May lows… I could find no such P3 Squeeze signals among my charts for this most recent turn in price that commenced this past week. None.

This only serves to reinforce my current opinion that we just don’t have anything here to be getting excited about yet, and I’m currently thinking that unless something should light a fire under the metals markets, so that we see further price increases taking place with some real trader and investor involvement pushing prices on expanding volume… I’ll remain wary and uncommitted.



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