US equities are a little choppy, if mostly leaning upward. Meanwhile, the precious metals are sig’ higher, Gold +$109 (2.4%), with Silver +$2.59 (3.8%). The miner ETF of GDX is currently +5.5% at $105.65.
Weekly charts for perspective…
GLD
SLV
GDX
Summary
Gold/GLD: currently around $5029. Weekly momentum is on the high side, but there is zero sign of a turn, as gold is holding up far better than silver.
Silver/SLV: currently around $77.71. Weekly momentum prone to turning negative next week.
Special note… SLV, 15min
My exit early Wed’ – on an opening black candle (from the $76s) looks very good, relative to the current $70s. I’ll hope for cooling early Tues’, and look to buy back.
—
GDX: ending the week on a strong note, set for a net weekly gain of around +6%.
notable gold miner: NEM
Earnings due next Thurs’ AH will be good.
M/t bullish >$200
—
notable silver miner: PAAS
Earnings due next Wed’ AH, should be good.
M/t bullish >$100
–
Equities: sp’60min
Mr Market is increasingly subdued ahead of the long weekend.
–
I’m watching this…