Panic selling has set in as the Nasdaq experiences its worst month since October of 2008, plus a look at gold, silver and the mother of all breakouts.

January 24
King World News
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Graddhy out of Sweden: 
Those are pretty good looking bullish reversals on SILJ, GDX, GDXJ at present, backtesting my blue lines a 2nd time, while holding the green rounded bottoms.

Silver Still Holding Green Rounded Bottom

Keeping An Eye On This
Liz Ann Sonders, Chief Investment Strategist at Charles Schwab:
  Put/call ratio (5d average) has spiked to highest since May 2020.

Put/Call Ratio Spikes To Highest Since May 2020

Big Ouch!
Liz Ann Sonders, Chief Investment Strategist at Charles Schwab:
 NASDAQ’s internals struggling markedly … over past year, change in members trading above 200d moving average has amounted to -63%, the worst decline in 2 decades.

Worst Decline For Nasdaq Internals In 2 Decades!

Stock Market Bulls Being Tested
Liz Ann Sonders, Chief Investment Strategist at Charles Schwab:
  NASDAQ 100 is having its worst month since October 2008.

Worst Month For Nasdaq Since October 2008!

Expect Lots Of Lamborghinis For Sale
Peter Brandt: 
Back in my days at the Chicago Board of Trade the clue that a massive bear market was near an end was when the bathroom stalls will all occupied with traders on their knees worshiping the porcelain alter. Huge bear markets end when enough bulls who originally swore they could endure a huge correction throw in the towel just to end the pain. Another “tell” is when an unusual number of Lambos are for sale…

Billionaire and mining legend Ross Beaty, Chairman of Pan American Silver, just spoke about what he expects to see in the gold and silver markets and also shared one of his top stock picks in the mining sector CLICK HERE OR ON THE IMAGE BELOW TO HEAR BEATY’S INTERVIEW.

This Is Not A Liquidity Crunch
James Turk:
  It feels like a liquidity crunch, but the amazing thing is that central banks continue to expand their balance sheets. The Federal Reserve grew its balance sheet by $79.5b last week. They are only talking about tightening; they aren’t doing it. So although it feels like a liquidity crunch, something else is driving the stock market at the moment, which I believe is fear and worry about the crazy overvaluations in most sectors, notably excluding the gold miners. I still believe that December 15 will mark the low in the gold and silver price.

The FOMC is meeting this week, and it is possible they may announce a rate hike this week instead of March. That has the major averages spooked, leading to some precautionary selling in case the Fed actually does act this week, instead of issuing more promises to act in the future.

Federal Reserve Still Growing Its Assets
The Federal Reserve last week grew its assets by $79.5b (paying for them with US dollar conjured out of thin air) while mining companies produced $3.7b of gold (with hard work and employing capital) illustrating 1) how US dollar is being debased 2) why gold is undervalued.

ALSO JUST RELEASAED: BUCKLE UP: Dow Plunges Over 1,000 As Historic Stock Market Bubble Pops CLICK HERE TO READ.
ALSO JUST RELEASAED: Greyerz – 2022: The Year When The World Will Experience The Biggest Financial And Economic Crisis In History CLICK HERE TO READ.

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