2pm update - afternoon melt

Once again the latter day recovery is in effect, with the indexes fractionally green. Metals - and Oil, remain significantly lower. The latter of which might be suggestive of equity weakness when the market opens on Tuesday. Dollar is a touch higher..further pressuring those shiny things.


sp'daily5

GLD'daily

Summary

Gold and Silver both feeling the pain this week with heavy falls. I'd guess there is still another few days until it levels out, at least in the short term.

What remains the big issue is when will the next multi-month ramp start? March could be a major turn.
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*RIG, not sure why its -5%. Its had a great run recently, broader trend should remain upward, regardless of any follow through next week.

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Metal bugs running for cover?



back after the close.