US equities are struggling, with the US 10yr printing 4.79%. Meanwhile, the precious metals are a little mixed, Gold -$4, with Silver u/c. The miner ETF of GDX is currently +0.4% at $26.08.
GLD daily
SLV daily
GDX daily
Summary
Gold/GLD: gold printed $1830, if recovering to around $1843. Higher yields and the broadly strong dollar sure aren’t helping.
Silver/SLV: silver printed $20.87, if recovering to the mid $21s. Sub $20 appears a given within the next 1-2 weeks.
GDX: miners hit in early morning by gold/silver, if recovering.
notable miner: GOLD
Reflective of the sector.
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Equities: sp’60min
Bears could argue structure is a bear flag. Cyclically we’re low, but if the daily 200ma fails to hold (around 4200), price will spiral, with nothing really until 4K.