US equities remain choppy, if still mostly leaning upward. Meanwhile, the precious metals are broadly weak, Gold -$5 (0.3%), with Silver -1.1%. The miner ETF of GDX is currently -1.1% in the $31.13s.
GLD daily
SLV daily
GDX daily
Summary
Gold/GLD: gold printed $1795… as psy’$1800 remains tough resistance, and has cooled back into the $1780s. Ongoing dollar strength isn’t helping. Things only turn interesting >$1837s.
Silver/SLV: silver printed $23.08, pressured by the main market and the dollar. A full decade after the $49s… silver remains outright ‘cheap’. From a short/mid term trading perspective…its just a mess.
GDX: miners yet to find a floor, with the sector having fallen by around -24% since mid May. Small solace is that the March low hasn’t been taken out.
notable miner: GOLD
A fourth day lower… still unable to put in a s/t floor.
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Equities: sp’60min
Chop chop… but with OPEX tomorrow… that is not entirely unexpected. The s/t cyclical setup will favour the bulls into Friday morning.