US equities are still bouncing, if prone to stalling. Meanwhile, the precious metals are sig’ higher, Gold +$30 (1.0%), with Silver +49cents (1.4%). The miner ETF of GDX is currently +2.7% at $58.12.
GLD daily
SLV daily
GDX daily
Summary
Gold/GLD: gold is sig’ higher, currently around $3346. I still net bearish for Sept-Oct’
Silver/SLV: silver is very sig’ higher, currently around $37.80. I still net bearish for Sept-Oct’
GDX: miners are very sig’ higher… rather impressive. I still net bearish for Sept-Oct’
notable gold miner: AEM
Reflective of the sector.
–
notable silver miner: PAAS
Lagging the sector. The cautious will favour the gold miners of AEM, NEM, B, but even those will be vulnerable if the main market drops.
–
Equities: sp’60min
Eyes on the hourly 10MA
If we’re going to stall, now is the TIME and PRICE.
Daily charts suggest yes.