October 4, 2021 - (Gold Market Wire) - Friday's recovery, and this morning's early Silver rally, could have led the Bulls to believe the worst was over. But then 'something' scuttled the plan:

That 'something' is the European equity picture - and boy, is it a cause for concern. To wit - the German Stock Market (DAX):

and the same...zoomed in:

It's a do or die situation, in the making, at least. And the horizontal marker confirms it:

As we have said for weeks, the main impediment to a Metals recovery was going to be the overhanging potential of a stock market sell-off, and now, the markets in Europe are hanging by a thread. The US/DJIA close Friday was technically short of disaster - but not really enough to indicate an end to the selling threat. This week will be critical as the fabled month of October is making an entry full of foreboding. The move to cash that started the Metals sell off continues. If we get an equity market sell-off - look out below...because the Metals are going to take another hit. Gold's failure to recover it's support in the $1793-$1805 band does not bode well.

We are still out of the market, as the sidelines are the only place to be. Those with a gambler's streak can think about getting ready to short the stock market or the Metals.

It's going to be a hell of a Monday and Week, so fasten your seat belts.