I thought about making this a totally new post last night but it was too late and I was too tired. It is, however, the proper place to start this day. I am currently compiling a more lengthy post. More later.
"11:45pm EST UPDATE:
Well, so far, the week has played out as we'd kind of expected. Perhaps not in process but certainly in price. Feb gold reached a low earlier this evening of 1329.50. March silver traded all the way down to our range and hit 26.63. The time is now. We will find out shortly if I am to be proven correct in this search for a bottom. Here's what to look for next:
Gold has rebounded this evening to 1334 and silver is back to 26.89. They will, most likely continue to rally overnight as the March USDX clings to the area around 78. At the Comex open and LBMA pm fix, the metals re-test the lows of this evening and hold. Perhaps the catalyst for the initial rebound will be the USDX breaking down. Perhaps it will be copper and crude rallying. No matter, the key will be the double bottom. Similarly, we got a double bottom at 25 in silver back in mid November at the exact same percentage drop from the recent high. See here for a recap:
So, anyway, the moment of truth has arrived. I can't wait for tomorrow."