It took a while, but there's a good possibility that the intermediate low in PMs is in. The stocks, the metal and the stock/metal ratio appear to have formed a classic bottoming formation at a time when the bullish % of gold stocks is at 0.

I don't believe this is the ultimate bottom in gold or gold stocks, but I do believe a seasonal move worth playing is in the works. Might run until October.

On another note, Japan is finally starting up a couple of reactors and the uranium stocks have reacted (couldn't resist a bad pun). This sector looks like it wants to run as well.