2pm update - more of the same

US equities remain stuck in minor chop mode, with the sp'500 u/c @ 2078. The USD is cooling from earlier highs, now +0.2% in the DXY 99.10s. Metals remain weak, Gold -$2, with Silver -2.0%, and that is not helping the related mining stocks, the ETF of GDX -2.3%.


sp'60min

GDX, daily

Summary

re: metals/miners. Broadly.. both weak.. as King dollar remains strong.
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With the sp' back to flat... probability of a daily close in the 2060s is again waning.

Again, those seeking sustained action <sp'2K should recognise that the underlying pressure is strongly to the upside.

Even if sp'2020s are hit next week, it will merely make for the first higher low since the recent peak of 2116.
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notable weakness: TSLA, -2.5%, AAPL -3.2%, FCX -5.1%

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back at 3pm