Stocks continued lower as anticipated, but should bottom over the next 1-2 days before a powerful move occurs into July 29 – August 1. The top we originally anticipated for July 15th should occur then. SPX has the potential to reach as high as 4,150. This correction should complete no later than September, and will continue once this next top is achieved between July 29 and August 1.
Gold will have finally bottomed by Wednesday. These remain phenomenal prices to continue accumulating. In general, gold and precious metals should prove to be one of the best investments over the next several years. While the 2023 recession brings down the value of currencies and equities, the value of metals should only increase.
OIH has potential to reach $400 by the first quarter of 2023 as crude climbs to $200/barrel.
We will likely average down our GBTC position in August when crypto forms its final low. Many big players are still heavily leveraged, and any further decline in price can trigger a cascade of margin calls, driving price even lower. The final washout should occur between August 15 – September 1.
Tomorrow we will likely average down our URA and CCJ positions alongside our metals positions. The two commodities move together and should see a substantial rise over the next three months.
WEAT is at a great accumulation point and should experience a sharp and powerful spike over the coming months.