US equities are battling to hold broad gains. Meanwhile, the precious metals are broadly higher, Gold +$23 (1.3%), with Silver +0.8%. The miner ETF of GDX is currently +3.2% at $31.53.
GLD daily
SLV daily
GDX daily
Summary
Gold/GLD: printing $2001, as a weekly settlement >$2K appears probable, and would merit serious consideration.
Silver/SLV: printing $23.33. I struggle to take silver seriously unless >$30.
GDX: miners are powerfully higher. I still see the sector as problematic with the main market…. but neither would I short them!
notable miner: NEM
Mostly reflective of the sector. Bulls could argue s/t structure is a bull flag.
–
Equities: sp’60min
Further cooling, as yellow gap will probably be tagged.
*I’m still concerned of a push to the upper daily bollinger, although that technical is itself declining (around 4056).
—
VIX’60min
Opening VIX gap fully filled.
–
Yours truly bailed on SPY PUTS from sp’3974.
… as based on the micro 5min SPX and VIX cycles.
My gain (19.5%) was half of what I could have had yesterday afternoon, and I’m not in the mood to hold it any further. In any case… trade’5… green.
Now I’m back to looking for an acceptable re-short.
Yours… glass half empty.
–
Ms. Olson helps calm me.