US equities remain very significantly higher. Meanwhile, the precious metals are powerfully lower, Gold -$62 (3.3%), with Silver -3.1%. The miner ETF of GDX is currently -2.6% at $37.55.
GLD 60min
SLV daily
GDX daily
Summary
Gold/GLD: gold printed $1981… simply trading inverse to the equity market. Nothing has changed. New hist’ highs >2089 appear viable within days. From there… grander target 2400/2500.
Silver/SLV: silver printed $25.73… notably still above old resistance of $25.50. Next target remains psy’30.
GDX: miners naturally hit by gold/silver. Absolutely m/t bullish, with next target of the $44s.
notable miner: GOLD
Barrick Gold fairing 2x as bad as the sector. Having recently cleared the $25s, soft target is psy’30.
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Equities: sp’60min
S/t momentum is leveling out. Right now… I am suspicious of another wave upward… and if higher equities… then gold/silver/miners will be under pressure. Confidence is LOW, and I’m highly inclined to just sit this out.