US equities are sig’ lower. Meanwhile, the precious metals are broadly lower, Gold -$18 (0.5%), with Silver -74cents (1.6%). The miner ETF of GDX is currently -4.0% at $73.31.
GLD daily
SLV daily
GDX daily
Summary
*it remains the case, if you’re bearish equities, you can’t be bullish silver, the miners, and to a lesser extent… gold. If SPX 6200, then silver 40/39, and gold $3500s ?
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Gold/GLD: moderately lower, currently around $4058. Yesterday’s black candle played out.
Silver/SLV: sig’ lower, currently around $50.39. Yesterday’s black candle played out.
GDX: miners are powerfully lower, dragged down by gold/silver, and especially the main market. Yesterday’s black candle played out.
notable gold miner: AEM
Reflective of the sector. Daily momo has turned negative.
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notable silver miner: PAAS
Leading the silver miners lower.
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notable miner: NEM
Yesterday’s black candle played out.
Daily momentum has turned negative.
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Equities: sp’60min
A bounce attempt… but failing, as s/t momentum has turned negative.
Regardless of the exact close, the powerful downside reversal makes it a net bearish day.