Gold and Silver

Unusual charts show a major gold bottom could be forming now

Gold and Silver new
From Gold Scents:
For months and months now, I've been warning traders that QE 3 & 4 were going to have a major effect on stocks...
I was confident the latest counterfeiting operation by the Fed would push stocks to at least test the 2007 highs, and I really expect we will see a marginal break above that level sometime this year. Probably by the end of the month...
Make no mistake, though. We are still in a secular bear market. Stocks are testing their all-time highs at the same time earnings are in decline, GDP has turned negative, and unemployment is starting to tick up.
It has been my expectation that the stock market would put in a final top sometime this year. I also expect this will be a very extended and difficult topping process lasting months, if not a year, or more.
During this topping process, I expect to see an inflationary surge very similar to what happened in the oil markets during the 2007 top.
Notice the breakdown in early 2007 that convinced everyone that the bull market in oil was finished. This set up a massive parabolic move into the 2008 blowoff top.
This time, however, I don't think it's going to be oil leading the inflationary charge.
In order to generate that kind of move, we need something that has formed a long consolidation similar to what happened in oil, and preferably an asset that has declined long enough and far enough to push sentiment to negative extremes capable of convincing everyone that the bull market is over...
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