US equity indexes are mixed. Meanwhile, the precious metals are leaning upward, Gold +$15 (0.6%), with Silver +6cents (0.2%). The miner ETF of GDX is currently +2.0% at $42.30.
GLD daily
SLV daily
GDX daily
Summary
Gold/GLD: gold is churning around $2985, partly restrained by moderately higher bond yields. M/t bullish unless <2700.
Silver/SLV: silver is churning around $29.85… restrained by the shaky main market. M/t broken unless >$31.00.
GDX: miners are very significantly higher, as yesterday’s hollow red reversal candle played out. M/t bullish unless <$39.00. My concern would be the main market into Oct’.
notable gold miner: GOLD
Reflective of the sector
–
notable silver miner: AG
Early gains… fully faded.
–
Equities: sp’60min
All the gains have been fully eroded… but its not entirely surprising.
We could do this for another two days.
I expect a net weekly gain (>5074).