US equities remain in micro chop mode. Meanwhile, the precious metals are leaning weak, Gold -$5 (0.3%), with Silver -0.3%. The miner ETF of GDX is currently -1.3% at $26.29.
GLD daily
SLV daily
GDX daily
Summary
Gold/GLD: gold printed a new cycle low of $1721. Next big support are the $1660s.
Silver/SLV: silver printed $18.63, not helped by the shaky main market, or the broadly strong dollar. I’d keep in mind the March 2020 $11s.
GDX: miners are sig’ lower, not helped by gold/silver.
notable miner: GOLD
Barrick Gold powerfully lower… breaking a new multi-year low. Any further main market downside isn’t going to help.
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Equities: sp’60min
The micro chop continues.
Cyclically… we’re on the low side.
Best guess… early Wed’ downside, but then whipsawing upward.