The broad U.S. stock market may be approaching a critical turning point. In this video, Clive Maund analyzes a series of technical charts suggesting that the major indices—including the S&P 500, Nasdaq, and Dow Jones—are completing large bearish topping formations that could precede a significant decline. At the same time, the precious metals sector is sending a very different message. While gold and silver have recently undergone a sharp correction following an overextended rally, their long-term technical structures remain highly constructive. Gold continues to build on its massive multi-decade Cup & Handle breakout, while silver has successfully broken above its own 45-year base, with the recent pullback potentially representing nothing more than a normal consolidation before the next advance.
In this analysis, Clive covers:
Why the S&P 500 and Nasdaq appear vulnerable to a major breakdown.
The bearish implications of developing Head & Shoulders patterns and distribution structures.
The significance of the recent gravestone doji on the Dow Jones.
Whether weakness in equities is likely to spill over into precious metals.
Why gold and silver may continue to outperform once the current correction is complete.
The long-term outlook for the precious metals bull market.
If you’re following the stock market, gold, silver, mining shares, or the broader macroeconomic outlook, this is an important technical update you won’t want to miss.