US equities are choppy, if leaning upward. Meanwhile, the precious metals are a little mixed, Gold +$4 (0.2%), with Silver -0.3%. The miner ETF of GDX is currently +1.1% at $31.60.
GLD daily
SLV daily
GDX daily
Summary
Gold/GLD: printing $1885, with a touch of cooling to $1879. Today’s stronger dollar is keeping a lid on gold, as psy’ $1900 remains tough to clear.
Silver/SLV: printing $23.55, if recovering to $23.79. The problem shall remain any renewed main market downside. I’m still guessing we’ll eventually see capitulation in the 14/13s.
GDX: miners are set for net gains… fairing better than most sectors. S/t bullish with the main market. I’m still skeptical of the sector… assuming sp’3491 is taken out within 2-3mths.
notable miner: GOLD
Reflective of the sector. The break above the 200dma still offers the $21s, which might sync with sp’4K.
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Equities: sp’60min
Momentum is offering a provisional floor/turn. Bears could argue structure is a bear flag. In any case… teal gap remains a basic upside target.