A partial ETF update beginning with GLD, which remains above the support parameters and on its bull signal.
SLV is touching the trend line we have been noting. It is technically on a bear signal but this support is critical. It is time for SLV to hold support to keep a neutral to bull case in play for the short term.
GDX is still above its support zone and on a bull signal.
SIL has hit the support line while SLV/Silver test the critical trend line. SIL is on a bull signal and should be watched closely for a hold or failure of this support.
Bottom Line
All items still look like they are in normal corrections, except silver which never got going to begin with. Silver and silver miners should be watched closely as they are the closest to critical support parameters.
I think the above gives a clear view to the sector for the short term. The support parameters are used by those who chose not to sell the spike to either remain firm or manage risk as indicated.
I will not plan to over manage you into the FOMC. If you have any questions, don’t hesitate to pop me a mail at the ‘gt’ (biiwii.com) address.
