1pm update - metals and miners

Whilst the broader equity market is largely churning, there is notable weakness in the precious metals, with Gold -$9 in the $1240s. The related mining stocks are naturally cooling, with the ETF of GDX -0.5%. Further weakness seems probable.


GLD, daily2

GDX, daily2

Summary

Suffice to add, we're barely seeing any sustained retrace after a powerful breakout ramp that began last December.

Broader outlook into the spring/summer looks bullish... inverse to (still) viable downside in the main equity market.
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stay awake...if you can.