The miners (via the precious metals) remain an indirect signal of underlying capital market unrest. The miner ETF of GDX opened sharply lower by around -3% to $22.78.. but has seen a very powerful reversal.. currently +1.9% in the $24s.
*I realise some would disagree, but the metals and miners appear to be a rather kooky... but important indirect signal of underlying capital market unrest.
Gold to the $1400/1500s appears a pretty realistic target this summer/early autumn, and if that is the case, GDX would probably be in the 35/40 zone... which would be an incredible hyper ramp, having traded at $12.40 in January.
As for the equity market.... it appears the mainstream have recognised we've seen a core break of support.. and now seem resigned to sp'2000 within the near term.
... and of course.. there is the H/S target of 1970/60s.
Meanwhile... a covert signal to the Desert Fox...
time for tea