US equities are moderately lower. Meanwhile, the precious metals are broadly lower, Gold -$9 (0.5%), with Silver -1.3%. The miner ETF of GDX is currently -1.9% at $27.49.
GLD daily
SLV daily
GDX daily
Summary
*looking around, we do have a fair number of hollow red reversal candles, which bode s/t bullish for Tuesday.
Gold/GLD: gold printed $2030, pressured by higher bond yields and a stronger dollar, if recovering to around $2043. So long as $2K broadly holds, I have to expect renewed upside >$2100, and onward to 2400/2500. Its arguable the latter would sync with a m/t equity top.
Silver/SLV: silver printed $22.33, pressured by the weak equity market and the dollar. I will continue to favour gold.
GDX: miners lower with gold/silver, if mostly holding above recent lows.
*I hold GOLD, NEM, AG, HL.
If I was going to add… I’d buy back AEM, but I’m already maxed out.
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notable gold miner: GOLD
notable silver miner: AG
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Equities: sp’60min
Bears can argue structure is a bear flag.
Negated if >4975.