US equities are leaning weak. Meanwhile, the precious metals are leaning weak, Gold -$2 (0.1%), with Silver -1.0%. The miner ETF of GDX is currently -1.7% at $26.54.
GLD daily
SLV daily
GDX daily
Summary
Gold/GLD: gold printed $2043, but has cooled to $2032, not helped by the US 10yr printing 4.30%. Broadly choppy. Bearish <$2K, Bullish >$2100. I lean to the latter.
Silver/SLV: silver printed $22.79, largely due to the weak main market. I’d favour Gold, not least for a geo-political fear bid.
GDX: miners are very significantly lower, not helped by the downside reversal in gold/silver, and a weak main market. S/t vulnerable.
notable gold miner: GOLD
Tuesday’s black candle played out.
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notable silver miner: SSRM
I shall see the stock as a no-touch into the spring, and would favour AG.
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Equities: sp’60min
A new intraday low of 4954. Fed press release… due 2pm.
I’d accept the s/t cyclical setup favours the bulls, but NVDA and a Thursday… will likely be problematic.