11am update - mixed indexes

US equity indexes are a little mixed, with a fractionally red Dow/Trans/R2K, but with gains in the sp'500 and Nasdaq. With the USD -0.3% @ DXY 97.00, the metals are looking especially weak, Gold -$17... set to take out the Nov' low of $1130. Oil is similarly weak, -1.3%, but will likely turn positive by the close.


sp'60min

GLD, daily

Summary

*the precious metals are indeed particularly weak, considering the moderately lower USD. Price structure for Gold/Silver remains a very bearish H/S formation, which is highly suggestive of strong downside into the early summer. The $1000 threshold looks... highly probable.

Such an outlook.. if correct, bodes badly for the mining stocks.
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So.. it is a bit of a mixed Friday, but overall.. equity indexes are set for sig' net weekly gains.. and frankly.. that is what matters.. not the intraday.... least of all.. morning weakness.

notable strength: copper miners, FCX/TCK, both higher by around 4%.. which is impressive, considering the Gold/Silver declines.
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stay tuned..