Fomorenzo

Mid-Week Macro The S&P 500 remains strong, closing today at 7572, near an ATH. Not even a resumption of the war in Iran can slow it down. This is a classic example of a blow-off top. The US economy has a plethora of warning signs, yet investors only care about what Wall Street and the MSM is feeding them: bullishness. If you turn on any CNBC business program, they are going to tell you all is well with the economy. In fact, they are going to ignore any of the warning signs. The sheeple are being led to slaughter. At least, that is my take. I could be wrong. This current strength in the S&P 500, along with higher interest rates, higher inflation, Wall Street bullishness, and a low expectation of a recession in 2026, has put downward pressure on gold. Gold closed today at $4,036, down 28% from its ATH. Silver closed at $57, down 52% from its ATH. The miners continue to get obliterated, with the HUI at 621 and down 38% from its ATH. The gold/silver/miner bull is bucking hard, steadily bucking off anyone with weak hands. If you are an investor who tries to always make money, then this correction for gold/silver miners is likely difficult to endure. If you are a speculator who doesn’t care about the near term and is focused on future gold/silver prices and much higher returns, then it is just a correction to be endured, and an opportunity to buy the dip. In fact, the longer the correction lasts, the more shares we can accumulate at fire-sale prices. I’ve always considered gold as the eventual winner when the US debt bubble bursts. The only question is, when does it pop? My guess is soon. The end is clearly approaching. I plan to wait it out. It could be weeks. It could be months. I don’t think it will be years. Gold is already sniffing out the bubble bursting. That is what the run from $2050 in January 2024 to $5600 in January 2026 was all about. That was leg one. We have at least two more legs to go. The second leg should begin around November. That leg will take us above $6,000. That’s actually the most important leg, when the fear trade arrives. That’s when the mainstream begins buying the gold/silver miners, and sentiment finally improves. That is the leg that leads us to the third leg: the mania leg, where we win and can exit with big profits.

I’m still up more than eight figures even after six months of slams. They can dump more. That’s the price you pay. This ain’t for kids. Those 23 year old PhD candidate kids on X who never worked a real job but think they “know it all” are insufferable… 😄🤭

Getting some DMs / questions now: "Is this the low for $SILVER and $GOLD?" Answer: maybe.. but only if price proves it. $SILVER hit the first zone I was watching. $GOLD is also sitting in a very important area. At the same time, equities are testing major support and still have not fully broken down... That means we are sitting right on the knife edge. If this bounce turns impulsive, this could be the spring-higher setup bulls were waiting for. If it stays corrective, lower lows are still very much on the table... One issue: GSR only just tagged 70. I still would not be surprised to see a higher backtest there, which would likely mean more pressure on $SILVER and possibly $GOLD first. Important zone. Not confirmed. Treacherous market. One level at a time.

U.S. Homeland Security Secretary on Fox News: Iran tried to smuggle IRGC members into the U.S. as part of their World Cup team.

If $MGG.V surpasses +20% for the day I will sell more. I've seen this story before, few weeks ago it was $KTN.v with the exact same anomaly behaviour. This is not normal and normally MGG is -7% a day like this. When something is pushing it +15% +20% on over 15x volume on no news you know you should most likely pull profits. These things usually fade quickly after, and may be worth take the gift. I've done so and I will take more shortly if it keeps pumping. Sharing this to you guys as a lesson. Best guys to add with the profit taking capital right now is candidates like $AGX.v - Silver X Mining, $SSV.v -Southern Silver Exploration and $EQTY.v - Equity Metals Corp. That's what im tracking.