Analysts Calling Tops in Metals What Are They Thinking

I'm gonna do a quick video on silver this weekend. For whatever reason, I'm seeing a lot of analysts trying to call a top in metals and I don't understand why. I also see them trying to call a top in the stock market; not really understanding that either. Why is it that when something is making new highs, people want to try and call it a top? baffling to me. So, let me just go over this real quick. This intermediate degree rally broke out above this major resistance that had been in place for what three, three and a half years? 

The problem was that it came very late in this intermediate cycle. And the rule is that breakouts that occur late in a cycle usually don't produce sustained moves. You need to break out that occurs early in a cycle to get a sustained move. If a normal cycle link, let's say is 20-25 weeks, and you get a breakout on week 17 where you're going to need some weeks for the declining phase of the cycle. And so there's just not enough time to get a sustained move, generally speaking. So, that was the problem right here with this breakout above $30; it came very late in the intermediate cycle.