There were few new short term swing buy signals last week, unlike the previous two weeks. The new list had only 3 final buy signals and 2 final sell signals, indicating that there’s no strong impulse in place.
In the prior two weeks there was a heavy preponderance of buy signals after a very strong down wave. That indicated that it was at least time for a dead cat bounce, if not an intermediate bottom. I took a few picks from those and am adding another one this week. Now we wait and see for a week or two, adjusting stops to take us out along the way.
Meanwhile, the metal hints at an intermediate bottom.
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