sp'60min
GDX, monthly
Summary
The price action in the miners remains an absolute dismal performance, as Gold itself is actually a touch higher today.
Clearly, the market is still pricing in 'industry capitulation' this spring/summer.
Not all of the famous gold/silver miners are going to be around by end 2016.
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As for equities, yes.. its choppy... and remains weak... but I'm guessing 1857 will hold into early February.
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notable weakness, TWTR -5.8% @ $16.90.. go tweet that!
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2.13pm.. Oil -3.4%.. and that is really putting pressure on the broader market...
sp -7pts @ 1873...
Clown finance TV giving some coverage to CHK, -14% @ $3.04.... on track for total implosion.
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Equity bulls got to hold the 1857 low..
For the moment, VIX is showing a major divergence, as it remains well below the recent high of 30.
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2.30pm.. Well, its typical turn time...
sp'15min
Messy day... bulls need to hold here.. and push UP into the close.
Oil -3.2%... sure ain't helping. Next inventory reports are Ah Wed' and Thursday (due to the holiday).
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2.45pm.. sp'1865.... 8pts from breaking the Friday low. What a trainwreck.... from 1901 to 1865.. another 36pt (1.8%) swing.
VIX 27.50.. still divergent... showing ZERO sign of hyper upside... yet.