It does appear that we are sort of moving inverse the SM.
They’re trying to bounce the SM early, but they tried that yesterday too, so we’ll see if they can hold it today. The VIX has been bouncing lately, hard to tell if that continues or reverse lower again. One thing I remember vividly, if the SM opens higher most days and then sells off during the day, it seems there is a bigger correction coming. Maybe things have changed with the advent of algo’s and computers, but I sort of doubt it.
The big boys like Bezo’s and others were selling in droves a few weeks ago. Hard to imagine that they don’t have inside info.
HUI might have to tap 250 before squaring itself up, they seem to be selling the pm shares down a little harder this am. Earnings start to come out in a few weeks for most of the miners. Hopefully they show some improvement with the higher metal prices.