As we ease into the July 4th, 250 year anniversary, expect everything to slow down, especially toward the end of next week. In fact, other than Monday and Tuesday, don't expect much in terms of option trading. I'll be watching the futures markets on Sunday night, just in case a surprise upside or downside Open on Monday is lurking in our future. Nonetheless, a few macro observations are in order. First, the stock indices are still looking like a top is being made across all time frames. Just because they haven't stumbled yet (actually, they have) doesn't mean its full speed upward and onward for the indices. The slower holiday week is expected, with geopolitical and natural forces that are still very much hovering above it all. Absent a crash, there should be plenty of time to position for an intermediate term decline, anywhere from early July into Labor Day and dreaded October cycle lows. As for what might be ripe for a rally in the coming weeks, read on. Focus On Gold & Silver A longterm subscriber sent me a note late Friday asking about Gold and Silver. Neither have been on my front burner since early this year. That is about to change. As I reviewed the charts so I could reply to his email, it was a plain as day. Both Gold and Silver are ripe for a rally and that my friends, has knocked the stock market off my radar for this weekend's update. See if you agree. Gold Retracement Gold has retraced the minimum expected for Wave 4, retracing 38% of Wave 3. The most recent decline has soured even the staunchest gold bugs, a perfect sentiment environment for an short-to-intermediate. term, or beginning of a longer term, rally. Let's be on the lookout for reasons to go long GLD calls. How far can it Gold run? Gold Extension Minimum expectations into the $7,500-$8,000 area with a plausible target well over $10K in the months ahead. You can bet that if I get a Buy Signal on any of my technical screens, we will be buying GLD calls, out-of-the-money and at least into September-October, for starters. Silver Retracement Silver looks even more ripe for a rally than Gold, with Wave 4 having retraced close to the maximum expected at 0.618 of Wave 3. Target? Silver Extension That, my friends, is worthy of a call position ASAP. While we are waiting for stocks to pay off to the downside, let's add to our Bitcoin winnings by going long some attractive looking Silver calls. I placed the Wave 5 target in between minimum and most likely targets over the next few months. The idea is that when these out-of-the-money calls become deep in-the-money, we rinse, repeat and go out to next December-January for round #2. We did it at the end of Wave 3, late 2025 and into early 2026. Now let's do it again for an exciting Wave 5. SLV - Retracement & Extension Projections into 2027 Assuming Wave 4 is or has ended in SLV, the expectations for Wave 5 are a run from Friday's close $53.28 to anywhere from $155 to $300 over the rest of this year and into 2027. I'm recommending two strikes from the table below, either SLV $55C or SLV $60C, to be reached and/or exceeded in the next 84 days into the third week of September. Minimum expectation is $75, while $100 would not be a surprise. That would place either of those two strikes deep, deep in the money. Risk: 50%, as usual, and if stopped, next time for sure. An SLV Reminder From Sep-Dec, 2025 Silver (SLV) September Calls Best two bets: Sep $55C and/or Sep $60C. More Reminders: Premium Service Precious Metal Bets Into 4th Qtr, 2025 Active Trades PRO Service Premium Service
