Armstrong’s turn date has arrived, by the way.
But markets might need another month or two to sort things out I’ve been thinking.
But perhaps not . . .
. . .
The only hitch in the setup at this point is retail money. Retail money with its tendency to be concentrated on the wrong side of the trade near inflection points remains relatively neutral as of June 7th (see chart below). Short side concentration by retail money would galvanize the bullish setup. Watch for it in the coming weeks.
Silver’s next move has the potential to be “shock and awe”. Smart money is buying long contracts hand over fist. This type of concentrated buying has not been seen since late 2008 (see chart below). The concentrated buying of 2008 foreshadowed nearly a doubling and quadrupling in price by early 2009 and 2011. In other words, the money flow setup foreshadowed a ‘shock and awe’ run that few experts saw coming.