US equities are choppy, if leaning on the weaker side. Meanwhile, the precious metals are a little weak, Gold -$5 (0.3%), with Silver -0.3%. The miner ETF of GDX is currently -0.5% at $31.17.
GLD daily
SLV daily
GDX daily
Summary
Gold/GLD: gold printed $1821, if cooling back to $1809. The one solace is that gold is at least holding above psy’ $1800. Its a mess until >$1879s.
Silver/SLV: silver printed $23.48, but cooling back to $23.11. A challenge to key price threshold of $25.50 still appears due. Broadly… its difficult to take silver seriously until >psy’ $30.
GDX: miners seeing weak leaning chop… s/t vulnerable with the main market.
notable miner: NEM
Newmont continuing to fair better than the sector. FPE 18s is reasonable. Y 3.7% is attractive. I hold.
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Equities: sp’60min
S/t momentum has turned negative, and should be increasingly negative into the late afternoon, and carry over into Wednesday. The 4720/4700 zone isn’t a stretch by Thursday.