US equities remain in weak chop mode. Meanwhile, the precious metals are leaning weak, Gold -$2, with Silver -0.4%. The miner ETF of GDX is currently -0.9% in the $38.82s.
Weekly charts, for some perspective…
GLD
SLV
GDX
Summary
*I would note that gold, silver, and the related miners, are all holding below their respective weekly 10MA, and I thus deem the s/t trend as bearish. S/t price structure is a multi-week bear flag.
Gold/GLD: Set for a net weekly gain of around +0.2%.
Silver/SLV: Set for a net weekly gain of around +2.0%.
GDX: Set for a second consecutive net weekly decline of around -2.5%.
notable miner: GOLD
Barrick Gold… lower with the sector. The 200dma in the $24s is prime target, which syncs with a legacy minor gap.
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Equities: sp’60min
Price action remains choppy. S/t momentum is ticking back upward, but unless we get a Pelosi comment that ‘agreement is near’, the market should lean weak into the weekend.