US equities are leaning weak. Meanwhile, the precious metals are moderately higher, Gold +$9 (0.5%), with Silver +0.5%. The miner ETF of GDX is currently +0.3% at $28.62.
Weekly charts for perspective…
GLD
SLV
GDX
Summary
Gold/GLD: gold printed $2006. October looks due to settle >2K. The monthly candle is bullish engulfing, and leans distinctly bullish for November.
Silver/SLV: silver printed $22.78, not helped by the shaky main market.
GDX: miners battling to hold minor gains. S/t bearish.
notable miner: GOLD
Rough end to the week for Barrick Gold. Bulls could argue action is a retrace. Bears can note momentum prone to turning negative next Mon/Tues’. Any main market smackdown will likely drag the miners down.
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Equities: sp’60min
A new cycle low. Gap 4155/15 filled. Four to go (I’d settle for three).