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Recording Date 8-7-2026. The S&P 500 gained 3.6% and I remain biased higher, while the U.S. dollar slipped 0.2% and is sitting near support that could produce a bounce. The VIX is hovering around 14.9 and getting closer to my 13.5 level where volatility starts becoming especially interesting to me. But the real fireworks are in gold, which jumped 7.1%, and I believe this breakout materially improves the odds that the recent bottom is already behind us.
I'm putting real conviction behind that gold thesis because I believe inflation, rising long term yields, and the possibility of eventual yield curve control could provide major fuel for precious metals, with my longer-term gold target reaching roughly $7,000 to $8,000. Silver gained 9.9% and still looks capable of breaking beyond $64 toward the $70 to $72 resistance area, while copper hit a new high before printing a bearish short-term signal that has me cautious for next week. Uranium appears to be moving beyond its summer weakness even though I expect a near term retracement, while WTI oil plunged 11.2% into support and I now see roughly a 70% probability of an upside move next week. Toward the end of the show, platinum gained 6.1%, palladium gained 7.6%, nickel slipped 1.6% but still looks constructive to me, and Bitcoin gained 2.1% with upside potential limited by resistance around $66,000 to $67,000.
Key Insights in this episode
✅ Gold Gold surged 7.1% and GDX jumped 21.3%. I see limited downside and a long-term path toward $7,000 to $8,000.
✅ Silver Silver gained 9.9% and SIL rallied 20%. I remain bullish with $70 to $72 as the next major resistance zone.
✅ Oil WTI plunged 11.2%, but support held near the 200-day moving average.
✅ S&P 500 The index climbed 3.6% after breaking out of its bullish pattern.
✅ Copper Copper rose 1.9% to a new high near $6.87, but the chart now suggests a short-term pullback.
✅ Uranium URNM jumped 12.3% while term prices stayed near $95.50 to $97.
Tools for Success that I Love and find Helpful / Affiliates:
Technical Analysis Series
Rule Symposium 2026
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Rule Classroom Plus (2 Free Months)
TradingView (Free)
Lobo's Weekly Recap (Free)
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Chapters
0:00 S&P 500 Dollar VIX and Bond Yields
02:42 Gold Breakout and My $8,000 Target
08:29 Silver Rally and the Road to $72
12:17 Copper Hits a New All Time High
14:52 Uranium Seasonality and Term Prices
17:03 Oil Crashes 11.2% and Hits Support
19:06 Natural Gas Tests Multi Year Lows
21:07 Coal Selloff and the Second Chance Setup
23:43 Platinum and Palladium Breakout Potential
26:56 Nickel Builds a Bullish Reversal Setup
28:15 Bitcoin Tests $66,000 Resistance
28:47 Final Market Thoughts
DISCLAIMER: I am not a financial advisor. This is not financial advice. I only express my opinion based on my experience, and your experience may be different. These videos are for educational and motivational purposes only. Investing of any kind involves risk. Do your own due diligence. Every investment and bet comes with the risk that your capital could go to zero.
WHAT I DO: I spread out my investments. It's not all on one thing. For every bet that I make, I devote one hour of study per month to that investment. I keep the number of bets to what I can feasibly study.
AFFILIATE DISCLOSURE: Some of the links on this channel are affiliate links, meaning, at NO additional cost to you, the show may earn a commission if you click through and make a purchase and/or subscribe. However, this does not impact my opinion. I recommend them because they are helpful and useful, not because I am looking for the small commission. Thank you for using the links.
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