The 2 hour chart shows the literal technical bullish divergence off of a lower low, just above our final parameter in the mid-high 380’s. Note that our former important support at 420 is now resistance.
The figurative divergence is Huey green, stock market red. Just the way I like it, thank you.
This would be important because as you know we have expected a stock market correction of some kind (mini or maxi). The plan would be for the market correction to be routine, shaking out the dummies, and the miners holding critical parameters and just maybe this time leading a new broad up leg. The alternate plan would include darker possibilities, and we’ll keep it on radar because that is what we do; be prepared.
Of course one morning of pleasing activity does not solidify the plan. But it sure doesn’t hurt. As noted, I feel the precious metals decoupling from the broad construct will ultimately be a good thing and thus this morning’s activity is good to see.