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The USD Index moved decisively higher yesterday and the price of gold fell a few dollars. This might seem to be a sign of strength, but the real deal was seen in mining stocks. The latter declined initially, but ultimately managed to move back up, erasing the entire daily downswing. Are miners indicating another short-term bullish wave?

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In yesterday’s analysis entitled “Silver Soared, So It’s Bullish, Right? Wrong.”, we emphasized that silver’s strong daily upswing was not something bullish, but bearish and we didn’t have to wait for long to see the results. Almost the entire Tuesday’s rally was erased yesterday. Moreover, we discussed the analogy to the post-September decline. Silver’s yesterday performance fits this analogy like a hand fits a glove. Consequently, the follow-up is very likely to be alike as well. In today’s alert, we discuss the details for the silver roadmap.

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It’s been only a couple of days since Thursday, when we closed our short positions and we have already seen a sizable rally in gold and silver. In fact, yesterday’s upswing was so significant that both precious metals already moved to the target areas that we featured on Monday, even though they were “scheduled” to move there at the end of the week. Is the top already in? Silver’s short-term outperformance definitely seems to suggest that it’s either in or at hand…

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Gold and silver declined yesterday, but mining stocks closed the session higher, outperforming the underlying metals. As you know, that’s a sign of strength and a bullish factor. What does it imply for this week? In addition to a reply to the above question, in today’s alert we discuss if the 1980s analogy to the 2011-today decline is still up-to-date and we feature a major discovery regarding the very long-term USD chart. There’s something on it that’s critical and easy to see… But only after you notice it – and most analysts, let alone investors, don’t look past the a-few-years time frame.

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