US equities remain in minor chop mode. Meanwhile, the precious metals are leaning a little weak, Gold -$2 (0.1%), with Silver -0.6%. The miner ETF of GDX is currently -0.3% at $32.05.
GLD daily
SLV daily
GDX daily
Summary
Gold/GLD: gold is churning the 1980/70s… pinned back by the dollar. Background speculation the Fed might yet raise rates another few times isn’t helping.
Silver/SLV: silver is churning in the upper $23s. I struggle to take it seriously until >$30… and that doesn’t look likely.
GDX: miners are choppy, if leaning on the weaker side. S/t bulls should be concerned about downside red gap in the 28/27s.
notable miner: GOLD
Fairing a little better than the sector. Cyclically very low.
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Equities: sp’60min
All the bears have managed is sideways chop… whilst s/t momentum is now on the marginally negative side. Clearly, its down to whether a debt ceiling agreement is made before… or after the Treasury officially runs out of money.