GLD is neutral and on the cusp of a bull signal if support holds and the MA 50’s are exceeded.
SLV faded back to a bear signal, but MACD is constructive, very close to going +. Above the moving averages SLV would go strong neutral and above the noted resistance line SLV would move quickly to a bull signal. So SLV, get above that line.
GDX is on a bull signal above the moving averages.
[extra, chart from a previous update] HUI turned MACD green and is full bull as long as support holds, as noted in the update.
SIL is on a bull signal above noted support.
DBC is on a bear signal, but back above a neckline and close to triggering MACD.
USO is neutral with a strong move off of support into the moving averages, and MACD triggered.
URA is full bull and quickly became over bought off of the bottoming process and fledgling uptrend we have been following.
TLT is on a bull signal with support roughly at the MA 50’s (around 104).
SPY is on a weak bull to neutral signal within a rising wedge, negative divergence by MACD and a down trigger.
EZU is on a bull signal within a rising wedge.
EEM is weak neutral above support with MACD trigger.
FXI is in the same boat as EEM.
Bottom Line
- Precious metals remain constructive as the miners out perform, but correct some of the excess of the initial thrust. Gold and silver do however, need to get in gear. Especially silver. Miners look good above support parameters.
- Commodities (esp. Uranium) are looking better.
- Stock markets continue to hold up, with a sub theme that some global markets could out perform the US on the short term.
