A scenario that was not mentioned in the previous update is that gold stocks (and other sectors, including the inflation stuff) could rally off of CPI, but that the big buy signal could still be at or after FOMC.
What I mean is that there could be an oversold sentiment bounce at any time, especially from long-term support. But such a bounce could fail prior to FOMC, still marking that July 27th event as pivotal.
There are other scenarios, obviously. But I am leaning pretty heavy toward a contrary event coming soon. I’d like to see it come with a much anticipated .75% rate hike and the US dollar up there on its moonshot and quite possibly, the anti-dollar trades tanking badly. It feels like a watershed event will happen in July or August.
Okay, enough complexities from me for one day.
