Thursday, July 31, 2014
Quick update on PMs and miners charts
GLD is still below its EMA, and is now below the SMA(50) too. This meets the criterion for a downtrend. Thus avoid.
SLV is also below the EMA, though still above the SMA. That darn gap in mid-June looks an awful tempting target, no? Scary, avoid.
GDX valiantly refuses to break down below $26.
GDXJ valiantly refuses to break down below $41.
I dunno what to make of this.