Quick Update - Market Analysis for Mar 27th, 2025

With GLD now trying to push higher in a more direct fashion, I have to still note that the move up has begun in a very overlapping manner.  So, it is not something I trust at this time.  While it is still quite possible it may complete wave (v) as an ending diagonal, I do not think this move higher will have significant legs.  In fact, I am even considering a short position in GLD if we do break out and complete wave (v) sooner rather than later.

But, silver is potentially trying to develop another (1)(2) just below another micro pivot.  So, I am going to be watching this region quite intently.  As of now, I really am not going to trade this aggressively, UNLESS we see a clearly corrective wave (2) followed by a break out over the pivot.  Until then, I am simply going to watch the action, and continue to ride my core position.  But, a break out through this micro pivot could have legs, and you can use stops at just below the pivot if you are so inclined to trade a potential break out more aggressively.

As I also said about GDX, it has no clear indication for the yellow count, as I see no clear 5-wave decline.  So, it still retains potential for higher.  Yet, I cannot say that I have a strong pattern upon which to rely for me to trade it aggressively to the long side.