I’ve been flying mainly by instinct lately, with very good accuracy in my short and intermediate-term forecasts for gold, bonds, crude oil and the broad averages. The latter two have been swinging wildly for some time, hinting that we may be at a major turning point. If so, and the broad averages start to fall in earnest, we should expect to see gold’s rallies pick up in intensity.
Although it’s possible to identify tradable Hidden Pivot swing points within the flux, I’ve focused on a bigger picture so that we don’t lose sight of what’s at stake. Up till now, bears have been unable to deliver the haymaker that would send stocks reeling for at least a week or two, decisively ending the global funny-money hoax that has been going strong since March 2009. That day is coming, for sure, and my hunch is that it will be sooner (i.e., August or September) rather than later (i.e., October).