Back to the 2 Horsemen, we find horseman #1, USD now technically having broken the daily trend, setting it from down back to up. This joins the longer-term trends, which were already up. Bull trap? Still possible, by definition, since the breakout would signal momo players to jump the buck, much like the break down signaled momo players and the “dedollarization” touts to go that way.
However, the Gold/Silver ratio remains calm and in negative divergence to USD. A quick review and one conclusion among several, that USD on its own could oversee the remainder of the broad market correction and if GSR is still restrained at such time as markets hit clear support, it could be a positive rationale for a subsequent rally.
Video ends abruptly because I found myself babbling and did not want to waste your time with babble. So I clipped it.
Yes these video’s are great, Gary. Looks like a lot of PMS SL’s are taken out:) RSI is holding up well thus far…
BTW, RUT/IWM was trading the entire day in the plus yesterday whilst the major indices were negative most of the day.
Question: you have mentioned several times a potential target of 35 for silver. Would you say that this is an equivalent target for gdx 40? Thanks.