Last night I indicated that it could be a defining night for Silver - and it WAS and I think this time both Rashad and Gary have both been caught out.
I am inclined to think that tonight will be defining for Equities. Should we get more benign and softening data on jobs and housing starts tonight, we could get Dow breaching 40k convincingly and we get a Melt Up.
6k for the S&P500 is plausible over next 2-3 months and we could be in for an everything Melt-up from tech to Gold/Silver to BTC with DXY and US yields sinking further. 8k ASX would be easily achieved with that, primary contributor continue to be blue chips despite being overvalued. Lithium stocks could also get a boost but still underperform relatively. The big star performer I reckon will be Silver and silver stocks. Gold stocks would also do very well.
But this is the final Melt-Up before the big reckoning crash/train wreck, possibly from Q3 24 to end Q1 25. A final opportunity for stale bulls to unload into strength, but for the blue-sky dreamers hoping to see their stocks back to all time highs, its not gonna happen because this short window won't be enough to see full recovery, and fundamentals remain weak and fragile, the further we progress in time.
On this count, however, I won't be adding equity positions similar to being sidelined in Q4 2019 just before the Covid crash. But am counting on my silver stock positions (SS1/MMC) and physicals to make some difference.
