US equities are choppy, still battling to build a floor. Meanwhile, the precious metals are fractionally mixed, Gold -$1, with Silver +0.1%. The miner ETF of GDX is currently -0.5% at $23.70.
GLD daily
SLV daily
GDX daily
Summary
Gold/GLD: gold printed $1663, if recovering to 1681. The broadly strong dollar remains a powerful pressure, and there is ZERO reason to expect that to end any time soon. Having lost the $1670s…. next support are the $1370s.
Silver/SLV: silver printed $19.25, if recovering to $19.60. M/t broken with the main market. Next target 14/13s.
GDX: miners seeing considerable chop. M/t bearish with the main market.
notable miner: GOLD
Struggling to the sector.
–
Equities: sp’60min
S/t momentum is subtly ticking upward. Bears can argue structure is a bear flag, and that is the threat to anyone trying to buy for a bounce.