US equities are choppy… and broadly flat. Meanwhile, the precious metals are fractionally mixed, Gold +$1, with Silver -0.1%. The miner ETF of GDX is currently -0.1% at $29.74.
GLD daily
SLV daily
GDX daily
Summary
Gold/GLD: gold has seen a few swings… 2044, 58′, and currently around $2050. Clearly, the $2100s are out of range this side of the weekend. Maybe next week with the CPI/PPI ahead of the THIRD long weekend.
Silver/SLV: silver printed $22.88, if recovering into the low $23s. I can understand those buying physical at these prices. For the digital traders, I still see gold as superior until silver is >$30.00.
GDX: miners saw early sig’ weakness, but all saw an upside reversal, with a fair number set for a net gains.
*I sleep just fine with NEM, GOLD, AG.
notable miner: GOLD
Today’s candle is spiky on the lower side, and leans s/t bullish.
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notable silver miner: AG
Trying to build a floor from around the 50dma.
The more cautious will favour the gold miners.
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Equities: sp’60min
Chop chop… chop, as the s/t cyclical setup still favours the bulls.
Friday’s monthly jobs data should give the market the excuse to move.