US equities are choppy, if broadly lower. Meanwhile, the precious metals are leaning upward, Gold +$7 (0.4%), with Silver +0.4%. The miner ETF of GDX is currently -0.4% at $34.25.
GLD daily
SLV daily
GDX daily
Summary
Gold/GLD: gold printed $1935 overnight, but has cooled to around psy’$1900. Its possible we could see early Tuesday weakness of another $15 or so, but I’d see that as a buying opp’.
*I exited GLD CALLS at the open…. looking to buy back on Tuesday.
Silver/SLV: silver printed $24.88, if cooling back to the mid $24s. Last week saw a teasing break, but failure to hold above $25.50. The cautious will lean to gold at this time.
GDX: miners saw early gains fully fade. S/t vulnerable… if only a day or two.
notable miner: GOLD, daily
Reflective of the sector. Early gains fading. Bulls can argue we have a bull flag, above old resistance of the $22/21s.
*I hold GOLD CALLS
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Equities: sp’60min
S/t price structure could be argued is a bull flag… offering a test of major resistance in the 4450s or so… but NOT today. Today, we’re due to settle below key support. A bearish monthly settlement is due!