US equities are very significantly lower. Meanwhile, the precious metals are very significantly/severely lower, Gold -$39, with Silver -8.3%. The miner ETF of GDX is currently -3.5% in the $39.93s.
GLD daily
SLV daily
GDX daily
Summary
Gold/GLD: gold printed the $1885s, seriously pressured by the stronger dollar. I would keep in mind, the monthly 10MA… currently in the mid $1700s. I don’t see anything <$1800. Post election… should be wildly strong.
Silver/SLV: silver printed $23.78. Old resistance..22/21… is new CORE support… which should hold. 35/37 is still within range by year end.
GDX: miners hit hard with lower gold/silver, and the main market. The computer’s PF target of the $33s appears on track.
notable miner: NEM
Newmont is sig’ lower, if fairing better than the sector. The computer is seeking the $55s… that looks a stretch, but would sync with the GDX $33s. Absolutely… still m/t bullish. Further, I’d not be surprised if Buffett/Berkshire also pick up a chunk of this tier’1 miner, in addition to their Barrick Gold holding.
—
Equities: sp’60min
Price action remains ugly. Tuesday will threaten a turnaround… but that will just make for a bounce, as 3100 is very much on the menu, where m/t supports (200dma, monthly 10MA) will be tested.