what I am worried about is that this huge sideways pattern is a bearish contracting tri in stuff like GDX and GDXJ and we will at least thrust below this years low or perhaps even the Dec 2016 low in those indices. Little worried that things like HUI and GDX/gold ratios are rolling over as well, down to 25% long, maybe I am a contrary indicator here but feels "heavy" here in the miners, still a chance at a really good low but rather play it safer for now and I am traveling next week as well, as always DYODD
Senor
prudence is the word here.
after all we have little sign of upside here.
i doubt that its all a consolidation for a big move lower, but who knows. i remember in the 70s gold was brought to its knees in 75/76 and at some point the big players went long the miners. right here right now. all i see on all fronts is pressure. definitely a time for caution. surviving to play another day is the name of the game
dharma