I goofed and neglected to set a password. It’s okay though, I’ll leave it public.
Okay, I lied. I’d said no more precious metals micromanagement for today. Well, here is a brief bit of it. I am not using a chart but as we know gold stocks have hit the minimum requirement for a test of key support with HUI ticking a low just under 260. So far, so pretty darn good (HUI closed a teeny positive w/ a Hammer candle).
Gold has thus far held support and the SMA 50 nicely.
Silver held support at 17.45.
Flipping this morning’s Gold/Silver ratio over, we find Silver/Gold still stalking its target, which is not far above the current level. As with indicators like the IWM/SPY ratio publicly posted earlier, this is a down trending bounce that would indicate caution for many areas (esp. the reflation trades) as it enters the target zone. It does not mean it has to stop there, and Trump, the Fed and the reflation touts sure wouldn’t want it to. But a level of caution is always a good thing to keep by your side. It’s waiting in the yellow box.