US equities are significantly lower. Meanwhile, the precious metals are broadly lower, Gold -$11 (0.7%), with Silver -2.1%. The miner ETF of GDX is currently -2.9% at $27.60.
GLD daily
SLV daily
GDX daily
Summary
*I’m well aware of further background bullish chatter, especially on gold, but November hasn’t done enough to negate the m/t bearish trends.
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Gold/GLD: gold printed $1763, but cooled to $1740. Set for another monthly settlement under the monthly 10MA. M/t bearish.
Silver/SLV: silver printed $21.64, but cooled to $20.88. As ever… any main market downside is going to be a problem. M/t bearish.
GDX: miners lower with gold/silver, and further not helped by the main market.
notable miner: GOLD
Reflective of the sector.
Tier’1 quality miner, but I can’t be buying back.
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Equities: sp’60min
We’ve a break of trend.
Provisional confidence that 4034 is a key high.
For high confidence that 3491>4034 is ‘it’, we need to see <3700, and that is a fair way down.