Loading ...They got bonds under control. The dollar is flat because the Sterling is falling on its face, probably for the reasons Deer79 mentioned earlier, otherwise it would be down.
The scum has shown us that they are still capable of manufacturing a waterfall though. On the bright side, gold was due for a pullback and is no longer overbought, silver even less overbought and could bounce back from here at any time if they can hold $32.50.
The HUI is trying to hold the 320 level, although I have zero confidence that it will. It broke below its 50 dma today just as it has done every time in the last 4 months before moving on to new highs. Actually, the chart on the HUI looks perfect, and we may have seen the lows, or will see them in the next couple sessions. Unless the metals have a lot further to fall, it looks like a buy and may turn up before the metals. Slow stairstep higher that brings modest new highs. Hard to bank on pm share charts though, because the scum loves to terrorize them, and they seem so dependent on the SM.
It’s worth a look, almost textbook uptrend.
Little bit of short covering coming into GLD & SLV now, would like to see us close well off the lows. It could happen ya know. 🙂