At true C wave tops speculative fervor in silver tends to reach a fevered pitch driving the ratio of silver to gold down below 50. At the most recent peak the gold:silver ratio was above 60. Hardly the level of speculation that usually marks a C-wave top.
I expect when this C-wave tops we will see the gold:silver ratio stretch further to the downside than any other C-wave of this entire bull market. I won't be surprised to see sub 40.
At the moment we are still awaiting the end of this correction. I expect it will end when everyone is too scared to buy. We will probably see multiple posters coming on gloating how the bull is dead. How gold was in a bubble and the bubble has burst.
That is the kind of sentiment you see at intermediate term bottoms. And that is the kind of sentiment that will spawn a second leg up in this C-wave that I expect will dwarf anything we've seen up to this point.
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