Within wave iv, we cannot rule out the possibility that all of wave iv is now complete at the 55.62 low, and that we have started to rally higher in wave v of 3.
"We are now aggressively testing the North End area target. Drilling in the Contention zone continues to demonstrate consistently strong oxide gold and silver grades at shallow depths."
"Metallurgical testing of our extensive intercepts of oxide gold-silver mineralization represents a key stepping-stone to de-risking the brownfield gold-silver Tombstone Project."
Wave (iv) is going to become more complex than just a simple 3-wave corrective pattern, as it looks like we only completed wave -a- at the 4099.60 low.
Is the bull run in gold stocks over? No, but it’s hit the pause button. There are certainly bearish signals. The Gold Miners Bullish Percent Index falling to zero lines up with meaningful pullbacks in both GDX and GDXJ — the gold miners’ ETFs.
Major producers like Newmont are trading at record-low P/E multiples despite generating record-high profits.
Within wave -b-, we likely completed wave *a* at 4889.70 and most or all of wave *b* at 4311.40. After wave *b* ends we expect another rally higher in wave *c* to complete all of wave -b-.
