Not many words and again no bottom calls.
The sector is getting wiped out and it is going to come down to ‘puke points’. I cannot try to manage this and come off as anything other than guessing about what will happen from here.
So I leave you for the week with this chart showing the neckline to the big H&S. Watch volumes, reversal attempts, etc. For me, I am going to keep my heart rate set at normal and step out for a while. I’ll bring a laptop with me in case things look to reverse, but this could take on a life of its own. Understand your tolerance for risk if you are thinking about buying gold stocks.
Today could be the capitulation or it could be the start of something profound on the macro, to be played out later.