I know gold was off a bit today, and silver was up, but still… the miners are mostly up, though nearly half are down. It’s got to be a bullish development. I’d expect volume to be no better than average, but I’ll chart them all and have a look. I’d say support isn’t even threatened again today, too.
I start with those that rose, but it was on light volume, as: SSRI, MUX, AKG, HL, RIC, PAAS, RGLD, SLV
Then, those that were off, was also making their move on light volume, as: AG, PVG, FSM, ABX, AUY, SLW, GDX,
I’ve got one that rose on totally average volume, as: CDE,
Even a riser on big volume, like: IAG,
A decliner on really big volume: SGDM
GLD declined on average volume.
Move along, folks, there’s nothing to see here. It was one of those days that still makes for a bullish case in the metals and miners. I see lots of sideways consolidation, and ‘cups with handles’ among the miners. These are bullish charts patterns, so far!
As of about 6:15 am EST…. gold was at $1,320 an oz.! Thank you, Britain!!! The likelihood is strong, since this will probably be a metals price breakout, that nearly all the miners will, too. If so, volume should be BIG!
Here’s to your accumulation of real wealth!
Harold F Crowell