RE:RE:Big Shake out Prior to Important FOMC meeting next weekDid you mean PEA in Nov and RE before end of Sept the 3rd qtr? That would be the 4th qtr for PEA as they've stated in their prior releases. Its hard to say if DSV has hit its low but imho we could have hit the low today. Once DSV broke the low of 1.40 that was set around Nov of last year that triggered alot of stop losses. This to me looks like a downside flush and capitulation imho. We could see a bounce back on Monday or Tues of next week.
However the big catalyst that I see moving the metals will be them announcing NO Taper from the Fed on Wed. They are truly trapped as any taper will cause a huge sell off in the general markets and bond markets and they know it. Even if they do a taper ( which is highly unlikely imho ) they will have to reverse course soon thereafter which will make them look like fools and eradicate any credibility they have left LOL.
Another factor I didn't mention that will influence the Fed's decision is a political calculation. Fed Chairman Powell's term expires in Feb next year. He has expressed a desire to be renominated to a 2nd term. That won't happen if he causes a market meltdown between now and then LOL. This is a something I don't think many analyst factor in their calculations. Many pundits believe the Fed to be apolitical! I say bull to that as they have proven time and time again that they are nothing but LOL.