US equities remain in minor chop mode. Meanwhile, the precious metals are moderately mixed, Gold u/c, with Silver -0.8%. The miner ETF of GDX is currently +1.1% at $31.42.
GLD daily
SLV daily
GDX daily
Summary
Gold/GLD: gold printed $1789 for no particularly good reason, if recovering back above psy’ $1800, helped by the cooler dollar. Its a mess until >$1879s.
Silver/SLV: silver printed $22.60, if recovering to $22.85. A mess until >$25.50.
GDX: miners saw an upside reversal… helped by gold/silver seeing a morning rebound.
notable miner: NEM
Newmont has been fairing better than the sector recently. Big target is teal gap 65/67 which seems probable within January. Yours truly received a dividend today… its something, but it’d be better if I saw the $69s… my breakeven.
*options, I see >2500 March $70 CALLS.
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Equities: sp’60min
On balance, I’d still look for a net decline… if only -5/10pts. Thursday offers far better opp’ for the bears.